NAGA Group and CAPEX.com Merge, Form Neo-Broker Powerhouse

The NAGA Group AG (ETR), renowned for its innovative financial SuperApp, has completed its merger with Key Way Group Ltd., the operator of the CAPEX.com online brokerage platform. This milestone follows the initial announcement of the merger in December 2023 and the receipt of all necessary regulatory approvals.

NAGA formalized the merger following the resolution of its Extraordinary General Meeting held on April 12, 2024. By August 21, 2024, NAGA completed all organizational changes, setting the stage for integrating CAPEX.com’s user base into its ecosystem.

With this strategic move, the NAGA Group now stands as one of the world’s foremost neo-brokers, boasting approximately 1.5 million users across over 100 countries. The NAGA platform will begin migrating CAPEX.com users in the coming days, offering new features and enhancements that set the NAGA app apart in the competitive landscape.

The NAGA Group anticipates that this merger will lead to substantial cost savings, estimating up to EUR 9.0 million annually (previously USD 10.0 million). The initial integration phase, which focuses on unifying technology across the Group, will likely yield a positive EBITDA impact of around EUR 4.0 million annually.

NAGA Group and CAPEX.com Merge, Form Neo-Broker Powerhouse

The company expects to achieve additional efficiencies in regulatory overheads, personnel and trading costs, and customer acquisition expenses. The expanded platform will also enhance user experience with features such as social trading, neo-banking, and crypto trading, thereby increasing the lifetime value of CAPEX.com’s existing users and boosting overall profitability.

Octavian Patrascu, CEO of The NAGA Group, expressed enthusiasm for the merger, saying, “I’m thrilled about the successful merger and the new opportunities it brings. We executed this as planned, setting the stage to focus on synergies and drive growth. At the new NAGA, we will maintain our startup DNA by moving fast, staying innovative, and challenging the status quo with our products while embracing the efficiencies and processes of a larger, more structured organization. Our team feels energized and aligned as we begin this new chapter, and we look forward to the road ahead.”

NAGA is a prominent German fintech company offering an all-in-one SuperApp designed to integrate social trading, stock and crypto investments, and neo-banking into a unified platform. With operations in over 100 countries and nine local offices, NAGA provides a diverse range of services for both fiat and cryptocurrencies. Moreover, the platform features a physical VISA card with fiat and automatic crypto conversion, cashback benefits, dynamic social feeds, and advanced autocopy functions, allowing users to replicate successful trading strategies. NAGA’s inclusive and efficient financial ecosystem caters to a global community, enhancing personal finance and trading experiences.

For broker reviews, click here.