The Extraordinary General Meeting of NAGA shareholders has given the green light for the merger with CAPEX.com with a vote of 99.81%.
The newly appointed CEO of NAGA AG, Octavian Patrascu, will give rise to the “New NAGA”, boasting a new regulatory framework of 9 licenses (with 2 additional in the process of approval) and 12 offices worldwide, increasing the global reach of the Group and ability to service over 100 countries.
Besides an expanded user base of over 1.6 million registered users to date, the “New NAGA” will aim to achieve over 5 million registered users by 2025/26 by leveraging its technological ecosystem on the existing clients of Capex and respectively using Capex’s international operational and licensing infrastructure to optimize NAGA’s client base.
The client lifetime value and overall profitability are expected to grow significantly on the back of these synergies, as well as from the broader talent pool and local presence offered by the 9 local CAPEX offices.
The roadmap for the “New NAGA”
Upon completion of the merger, Patrascu will become NAGA’s majority shareholder, with a personal financial investment in the deal. Patrascu presented the roadmap for the company’s product and the expected seamless integration of all 4 financial verticals into a unified ecosystem for the user, the NAGA SuperApp. About the roadmap, the presentation mentioned the following:
- Market Expansion: Detailed plans to propel NAGA into new and untapped markets, broadening the company’s global footprint and harnessing new customer segments. This move is expected to significantly boost the company’s market share and strengthen its position in the competitive financial technology landscape.
- Product and App Enhancements: Recognizing the pivotal role of technology in financial services, he announced major upgrades to the NAGA app, focusing on improving user experience. The product development roadmap includes improving the community-based ecosystem, AI integrations and unique features empowering the users to become creators of their own financial instruments.
- NAGA SuperApp: Introduced plans to unify all existing NAGA services into a single, integrated platform – the NAGA SuperApp, creating a unified ecosystem, offering users a complete range of services ranging from trading and investing to crypto, neo-banking and personal finance management.
- Merger with CAPEX.com: Pending regulatory approval and the entry of the general meeting resolutions in the commercial register, the strategic merger is designed to boost NAGA’s financial efficiency, capitalizing on the synergies between the two companies (internal evaluation shows that these can exceed $10 million per year). NAGA will additionally benefit from Capex’s skilled management which has a proven track record, with a core team that has been working beside Octavian Patrascu for over 15 years. Additionally, joint strategies are expected to improve marketing efficiency, reducing client acquisition costs, and boosting brand reach and recognition.
“Expanding the global reach of NAGA and upgrading the SuperApp”
Octavian Patrascu, Founder and CEO of CAPEX.com as well as the new CEO of NAGA, said: “This EGM was a first for me as the CEO of NAGA Group and I’m excited that it resulted in the approval of the merger and the new proposed Supervisory Board, with such a significant voting majority.
“Securing this vote will allow us, after the regulatory approvals for the merger, to execute the new business plan. We are expanding the global reach of NAGA and upgrading the SuperApp to offer a true all-in-one user experience, unique in the world of Fintech.”
Patrascu’s track record demonstrates a consistent ability to identify growth opportunities, navigate complex market dynamics, and deliver exceptional outcomes. At Capex, he orchestrated its expansion to a global presence with six licenses, turning it into a multinational powerhouse with hundreds of employees and offices across four continents. Previously, he achieved three major exits from high-profile ventures such as Trade.com, Markets.com, and Vector Watch.
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