NAGA Group, a leading fintech company, has successfully completed its merger with Key Way Group, the parent company of CAPEX.com. This strategic merger, which received all necessary regulatory approvals in just six weeks, is set to strengthen NAGA’s global presence and optimize operational costs, according to a report from EQS News.
Growth in Global Reach
With this merger, NAGA Group has solidified its position as a prominent neo-broker worldwide, now serving approximately 1.5 million users across more than 100 countries. The integration of CAPEX.com’s user base into NAGA’s platform is anticipated to introduce a variety of enhanced features and services, further distinguishing the NAGA SuperApp in the competitive market.
NAGA Group’s strategy focuses on unifying technology across its operations to streamline processes and achieve cost savings. The company expects to realize annual savings of up to €9 million, a slight adjustment from the previous estimate of USD 10 million. In the near term, the group will prioritize maximizing synergies in technology, regulatory alignment, and customer acquisition strategies.
Expressing his optimism about the merger, NAGA Group CEO Octavian Patrascu stated, “The successful completion of this merger opens up exciting new opportunities for us. We’re now well-positioned to capitalize on synergies and drive further growth. Our goal is to maintain our innovative edge while benefiting from the efficiencies of a more integrated organization.”
Transition of CAPEX.com Users to NAGA
The transition of CAPEX.com users to the NAGA platform is expected to begin shortly. This migration will provide CAPEX users with access to NAGA’s extensive services, including social trading, neo-banking, and cryptocurrency trading, greatly enhancing their overall experience. The anticipated synergies from this integration are expected to contribute an additional €4 million annually to the company’s EBITDA.
Last month, the merger between NAGA Group and CAPEX.com received the required regulatory approvals. The transaction, initially announced in 2023, was approved by NAGA’s shareholders in April, despite the company facing challenges such as a 32% decline in revenue—from €57.6 million in 2022 to €39.7 million in 2023—along with a net loss and a 40% reduction in staff last year.
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