Exclusive interview FNG… Last month we mentioned (exclusively, of course) that the majority shareholder and chief executive Octavian Patrascu had completed a total Makeover of NAGA Group’s C-Suite management, with a new COO, CTO, CSO and CFO, among other things-with most of these positions. Trade.com, Finalo, Oval Money, Draftkings, Swissquote …).
How did all these changes come about?
How do things go to naga now almost a whole year after the naga-papex.com merger?
What is Naga’s approach to trading area?
Here’s what Octavian had to say about these issues and much more.
Fng: Hi Octavian, and thank you for participating today. We recently mentioned what can only be described as a whole NAGA management review, with a new COO, CTO, CSO, CFO … Among other changes, with most of the positions completed by executives outside the company. Can you let us know a little more about how you went to decide (and apply) all these changes?
Octavic: Every development phase needs the right tool.
After the merger, our ambitions – and the complexity – increased, so we asked leaders who had already escalated the world Fintechs. Most were people I worked with or compared to previous mergers and acquisition conversations, so the cultural application was clear. The short was simple: Bring fresh experience, keep what is already working and build a team that causes me as much as I question them.
Fng: It’s been almost a whole year since Naga and Capex.com have merged to form the new Naga. How has the merger arrived so far? Are there a few things that didn’t just go “as planned”? What have you learned from the whole process?
Octavic: Structured the recovery in three phases:
Phase 1 – Integration: closed the merger of CAPEX, secured shareholders and regulatory approvals and introduced consolidated procedures.
Phase 2 – Stabilization: Execute the integration plan after the merger, focused on units below the performance and created a stable operational basis.
Phase 3 – Centenance (Current): Review of Product Development Lecturers, Marketing Scale and Selective M & A. We are now stable in Phase 3 and on a good track to deliver the “new” Naga: Simple, technological and ready and ready for growth.
We are 70 % there, but the speed of execution is still varying depending on the team. My main lesson: Focus beats ambition. You cannot fix the features, send new products and redefine at the same time without stretching people. We have stricter priorities and we believe it is going to give in the future.
Fng: As we look back in the past year, one issue that emerges is the growing arrival of retail transactions. How does NAGA see the phenomenon that negotiates training?
Octavic: We respect the explosion, but our track map is clear: Create a “all money” platform that is regulated for a long distance. Prop accounts can create a great deal of commitment, but they also add a functional and regulatory weight. At the moment we would prefer to serve traders with transparent margin products and invest in our Super-APP core.
Fng: One of the changes we have made to NAGA is the move towards the existence of a “superapp” that merges social transactions, investing in stocks, encryption and neobanking. How is customers’ traffic taken?
Octavic: Early signals are loud.
Super-APP users are connected to 27 % more frequent than users of a product and their average balance is higher. People like a pure front-end with everything under a roof. We will continue to polish before we move all the traffic, but the use data tells us that we could be on the right track.
Fng: NAGA is now a company being traded with the public with a $ 200 million valuation (≈ ≈ 175 million). What do you see as the trail to become a billions of dollars?
Octavic: Three levers:
1) Double below in the super-app, so that every user brings more life value.
2) Expansion to high -growth areas where we already have a presence.
3) Keep EBITDA escalation faster than revenue.
If we execute these quiet and steady, the market ceiling will follow.
Fng: What else can we expect to hear from Naga in the near future?
Octavic: Stable delivery, no fireworks: Gradually over-application, further cost automation and selected corporate relationships that broaden our range without dilution. When we announce something, it will already be in the hands of users.