NAGA Group Secures €12.5m in Funding from FOSUN

Naga Group, a supplier of monetary companies, monetary expertise, and innovation incubation, has secured one of many largest FinTech Collection A investments in 2017 from FOSUN, serving to advance the group’s agenda and progress trajectory transferring ahead.

FOSUN is a world Chinese language funding group – the funding spherical encompassed over €12.5 million, which is able to assist Naga develop its disruptive monetary buying and selling applied sciences and pursue a stronger expertise focus in 2017. Naga can also be a key driver behind SwipeStox, a social community for inventory merchants, which boasts a deep community of worldwide distributed customers buying and selling greater than €20 billion inside 9 months after launch.

Yasin Sebastian Qureshi

In response to NAGA Group’s CEO, Yasin Sebastian Qureshi, in a press release on the funding: “We’re enthusiastic about our partnership and particularly being the primary FinTech agency with a stable bridge into China mainland. Being considered one of Europe’s largest early progress investments with solely 18 months after incorporation, exhibits our ambition to develop quick and develop into a serious pressure because the supplier of buying and selling options worldwide.”

“Along with FOSUN we are going to speed up our product growth for SwipeStox and broaden into extra areas within the buying and selling ecosystem. We’re aiming to develop into the most important social community for inventory merchants worldwide,” defined Benjamin Bilski, founder and CEO of SwipeStox, in an accompanying assertion.

“We’re delighted to hitch forces with a number one innovator in buying and selling applied sciences. NAGA satisfied us with the imaginative and prescient to disrupt the buying and selling area with its skilled workforce and robust expertise focus. We’ll combine NAGA and SwipeStox into our group synergy community, which is able to give NAGA direct entry to markets throughout Asia and the world,” added FOSUN Group’s founder and Chairman Guo Guangchang.

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