Social and copy trading focused Retail FX and CFDs broker The NAGA Group AG (ETR:N4G) has announced that the Extraordinary General Meeting of Shareholders which took place on April 12th has given the green light for the company to merge with CAPEX.com. NAGA’s shareholders voted overwhelmingly in favour of the merger, with a vote of 99.81%.

Privately held CAPEX.com announced in mid December that it had agreed to acquire NAGA Group in a reverse merger, that would see CAPEX.com shareholders (led by Octavian Patrascu) own about 75% of the merged entity. The transaction is still awaiting regulator approval.

During the EGM, the newly appointed CEO of NAGA AG, Octavian Patrascu, put forward the vision for the “New NAGA”, which boasts a new regulatory framework of 9 licenses (with 2 additional in the process of approval) and 12 offices worldwide, increasing the global reach of the Group and ability to service over 100 countries. Vouching to sustain the company’s mission to democratize access to financial markets, Patrascu presented the roadmap for the company’s product and the expected seamless integration of all 4 financial verticals into a unified ecosystem for the user, the NAGA SuperApp.

Key highlights from his presentation include:

Market Expansion: Detailed plans to propel NAGA into new and untapped markets, broadening the company’s global footprint and harnessing new customer segments. This move is expected to significantly boost the company’s market share and strengthen its position in the competitive financial technology landscape.

Product and App Enhancements: Recognizing the pivotal role of technology in financial services, he announced major upgrades to the NAGA app, focusing on improving user experience. The product development roadmap includes improving the community-based ecosystem, AI integrations and unique features empowering the users to become creators of their own financial instruments.

NAGA SuperApp: Introduced plans to unify all existing NAGA services into a single, integrated platform – the NAGA SuperApp, creating a unified ecosystem, offering users a complete range of services ranging from trading and investing to crypto, neo-banking and personal finance management.

Merger with CAPEX.com: Pending regulatory approval and the entry of the general meeting resolutions in the commercial register, the strategic merger is designed to boost NAGA’s financial efficiency, capitalizing on the synergies between the two companies (internal evaluation shows that these can exceed $10 million per year). NAGA will additionally benefit from Capex’s skilled management which has a proven track record, with a core team that has been working beside Octavian Patrascu for over 15 years. Additionally, joint strategies are expected to improve marketing efficiency, reducing client acquisition costs, and boosting brand reach and recognition.

Octavian Patrascu commented on the strong confidence vote:

“This EGM was a first for me as the CEO of NAGA Group and I’m excited that it resulted in the approval of the merger and the new proposed Supervisory Board, with such a significant voting majority. Securing this vote will allow us, after the regulatory approvals for the merger, to execute the new business plan. We are expanding the global reach of NAGA and upgrading the SuperApp to offer a true all-in-one user experience, unique in the world of Fintech.”

After the merger approval, Patrascu is positioned to become NAGA’s majority shareholder, with a personal financial investment in the deal. He brings to NAGA over 15 years of experience in founding and leading companies to achieve global prominence.

Being the Founder and CEO of CAPEX.com, he orchestrated its expansion to a global presence with six licenses, turning it into a multinational powerhouse with hundreds of employees and offices across four continents. With 3 major exits from high-profile ventures such as Trade.com, Markets.com, and Vector Watch, his track record demonstrates a consistent ability to identify growth opportunities, navigate complex market dynamics, and deliver exceptional outcomes.

The “New NAGA” said that it is set to benefit from an expanded userbase of over 1.6 million registered users to date and a roadmap to achieve over 5 million registered users by 2025/26. Leveraging NAGA’s technological ecosystem on the existing clients of Capex and respectively using Capex’s international operational and licensing infrastructure to optimize NAGA’s client base will drive an improved Client lifetime value and overall profitability. After the merger, NAGA will be able to draw from the broader talent pool and local presence offered by the 9 local CAPEX offices.