Capex.com and NAGA Announce Merger Plans To Exploit Synergies

<img width="250" height="162" src="https://www.leaprate.com/wp-content/uploads/2023/12/NAGA-Group-team-250×162.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="NAGA Group team" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2023/12/NAGA-Group-team-250×162.jpg 250w, https://www.leaprate.com/wp-content/uploads/2023/12/NAGA-Group-team-700×454.jpg 700w, https://www.leaprate.com/wp-content/uploads/2023/12/NAGA-Group-team-768×499.jpg 768w, https://www.leaprate.com/wp-content/uploads/2023/12/NAGA-Group-team-120×78.jpg 120w, https://www.leaprate.com/wp-content/uploads/2023/12/NAGA-Group-team-245×159.jpg 245w, https://www.leaprate.com/wp-content/uploads/2023/12/NAGA-Group-team-500×325.jpg 500w, https://www.leaprate.com/wp-content/uploads/2023/12/NAGA-Group-team.jpg 1206w" sizes="(max-width: 250px) 100vw, 250px" /><p>The fusion involves a reverse merger, where Capex.com merges into NAGA Group AG via a non-cash equity increase. Furthermore, Patrascu has committed to investing $9 million in NAGA through a convertible bond.</p>
<p>This strategic step aims to form a robust fintech organisation, leveraging both entities’ combined strengths and customer bases. NAGA and Capex.com, together, serve over 1.5 million clients worldwide and anticipate generating revenues exceeding $250 million in the next three years. R</p>
<p>Recent financial disclosures for the first half of 2023 from the German fintech firm showed earnings of €25.2 million, surpassing initial expectations by nearly €5 million.</p>
<p>The merged entity is projected to produce approximately $90 million in revenue in 2023, with an EBITDA of $6 million. It is also expected to realise annual cost savings above $10 million in regulatory compliance, technology, and marketing.</p>
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<p>Michael Miloans, NAGA’s CEO, highlighted the strategic benefits, noting the enlarged market presence, expanded licensing, and advanced technology that the merger will bring. This will scale the business both in the mid and long term.</p>
<p>The merger is scheduled for completion in the second quarter of 2024, pending standard approvals and conditions. Patrascu, the incoming Group CEO, expressed his confidence in the venture by personally investing in the deal.</p>
<p>With this merger, Capex.com added another strategic acquisition to its portfolio this year, including the recent incorporation of WiredMarket’s client base to penetrate the Greek market. The combined operations of NAGA and Capex.com are expected to witness considerable growth in their user base, revenue, and profitability.</p>
<p>Their trading volume for 2023 is anticipated to hit around $300 billion. The union of the two platforms, with over 1.5 million customers in more than 100 countries, aims to expand its user count to 5 million by 2025.</p>
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