Naga Group, a provider of financial services, financial technology, and innovation incubation, has secured one of the largest FinTech Series A investments in 2017 from FOSUN, helping advance the group’s agenda and growth trajectory moving forward.
FOSUN is a global Chinese investment group – the investment round encompassed over €12.5 million, which will help Naga develop its disruptive financial trading technologies and pursue a stronger technology focus in 2017. Naga is also a key driver behind SwipeStox, a social network for stock traders, which boasts a deep network of globally distributed users trading more than €20 billion within 9 months after launch.
According to NAGA Group’s CEO, Yasin Sebastian Qureshi, in a statement on the investment: “We are excited about our partnership and especially being the first FinTech firm with a solid bridge into China mainland. Being one of Europe’s largest early growth investments with only 18 months after incorporation, shows our ambition to grow fast and become a major force as the provider of trading solutions worldwide.”
“Together with FOSUN we will accelerate our product development for SwipeStox and expand into more areas in the trading ecosystem. We are aiming to become the largest social network for stock traders worldwide,” explained Benjamin Bilski, founder and CEO of SwipeStox, in an accompanying statement.
“We are delighted to join forces with a leading innovator in trading technologies. NAGA convinced us with the vision to disrupt the trading space with its experienced team and strong technology focus. We will integrate NAGA and SwipeStox into our group synergy network, which will give NAGA direct access to markets across Asia and the world,” added FOSUN Group’s founder and Chairman Guo Guangchang.
(Photo: Chris Goldberg, flickr)