For nearly a decade, The NAGA Group AG represented one of the European fintech sector’s most compelling, turbulent, and instructive stories. Founded with the ambitious vision of becoming an “everything financial” social network, a German contender to Israel’s eToro, NAGA went through a dramatic corporate evolution: a celebrated initial public offering in 2017, a $50 million initial coin offering (ICO) at the height of the crypto boom, a severe stock price collapse, accounting restatements, and tens of millions of euros in balance-sheet impairments.

However, preliminary results for the first half of 2026 indicate that NAGA may finally be turning a corner.

A Historic Turnaround

In August 2026, NAGA published its preliminary financial results for the first half of 2026, reporting its first-ever profitable first half in company history.

Key H1 2026 Financial Highlights

The company reaffirmed its full-year 2026 guidance, projecting Group revenue between €68–75 million and EBITDA of €10–15 million.

“The first half of 2026 demonstrates that our strategic repositioning is gaining traction,” stated Octavian Patrascu, CEO of The NAGA Group AG. “We achieved a profit in the first half for the first time in our history, while materially improving the profitability of our business model.”

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Origins & Ambition: Building “Another eToro”

To understand why NAGA took more than nine years to achieve a profitable first half, we need to look back at the company’s origins.

Founded in August 2015 by Yasin Qureshi, Benjamin Bilski, and Christoph Brück, NAGA was built around a central idea: retail trading was fragmented, intimidating, and disconnected from modern social habits.

Founded in August 2015 by Yasin Qureshi, Benjamin Bilski, and Christoph Brück, NAGA was built around a central idea: retail trading was fragmented, intimidating, and disconnected from modern social habits.

NAGA’s flagship product, originally launched as SwipeStox and later renamed NAGA Trader, introduced a Tinder-like “swiping” interface and copy-trading functionality. Retail clients could scroll through trading ideas, automatically copy successful traders, and share financial posts in an integrated social feed.

The vision quickly attracted high-profile backing:

Fosun Group: China’s massive private investment conglomerate became an anchor shareholder in 2017. Deutsche Börse Group: Jointly backed Switex GmbH, a planned marketplace for trading virtual gaming items. Hauck & Aufhäuser: Germany’s historic private bank joined as an early supporter.

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This article was written by Sylwester Majewski at www.financemagnates.com.BrokersRead More

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