Hamburg-based social trading platform NAGA (XETRA: N4G) on Tuesday announced initial revenue of $15 million for the second quarter of 2021, up 135 percent from $6.3 million in the second quarter of 2020.
The unaudited figures mark another record quarter for NAGA, which has reported surging business for several quarters in a row. The latest figures even beat the company's record revenue of $13.7 million in the first quarter.
NAGA added that the group's first-half sales totaled $29 million, up 85 percent from a year earlier.
NAGA is a brokerage firm but is best known for its social trading platform. The report highlights that in the first half of 2021, duplicate transactions grew 366% to 2.8 million, while overall transactions grew 78% to 4.8 million. Interestingly, the total number of replicas in 2020 was also 1.7 million.
In addition, total transactions on the platform reached $155 billion in the first half of this year. The figure was $59 billion in the first half of 2020 and $143 billion for the whole of last year.
At the same time, NAGA is expanding its global footprint and offering services beyond its regular brokerage business. The company's upcoming payment service, in partnership with Visa, is scheduled to launch in the third quarter of 2021.
Article from NAGA official website
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