Hamburg-based FinTech company THE NAGA GROUP AG ("NAGA") celebrated its successful launch in the Scale segment of the Open Market on the Frankfurt Stock Exchange today, 10 July 2017. The supervisory team at Allen & Overy has advised NAGA since its establishment in August 2015 on banking regulatory issues relating to the business model in particular also with a view to the IPO. This is only the second IPO on the newly opened Scale segment of the Frankfurt Stock Exchange.

NAGA links financial technology with innovative business models. By streamlining business processes, unconventional ideas can be implemented in an organised and efficient manner. NAGA's mission statement is to revolutionise the banking sector. Banking services are to be simplified and made accessible to all.

The Allen & Overy team was led by partner Kai A. Schaffelhuber and comprised counsel Dennis Kunschke (both Banking Regulatory, Frankfurt).