German fintech online broker, focused on social trading, NAGA Group has published its 2021 financial results. The company reported that it has exceeded its revenue guidance for 2021.
The consolidated group revenue more than doubled in 2021 to about €55.3 million compared to the previous year (2020: €24.4 million). This strong growth the group witnessed was largely driven by record EBITDA that reached €12.8 million in 2021 and nearly doubled compared to the previous year (2020: €6.6 million).
Additionally, NAGA’s trade volume reached €250 billion for the first time in 2021, which means that the group doubled its metrics compared to 2020 (€121 billion). The firm also noted that it executed over 10 million real-money transactions, which represents a 60% increase compared to 2020 (6.3 million). The Group highlighted that its strongest growth metric is the copy-trading activity. In 2021 the group registered over 4.8 million trades copied via its Auto Copy tool, which nearly tripled the numbers of 2020 (1.7 million copied trades).
Benjamin Bilski, the Founder and CEO of NAGA, said:
2021 was a fantastic year for NAGA. We have delivered another record year and achieved several milestones along the way. The investments in growth and the continuous acceleration of our marketing activities have paid off. Additionally, we have launched great products such as NAGA Pay, improved our platform and welcomed strategic investors to our cap table.
2022 will be another eventful year. We expect to be among the fastest-growing neo-brokers, by gaining market share in existing markets but also by expanding into new markets, while increasingly focusing on the crypto and DeFi space with our brand-new platform NAGAX.