Singapore based financial technology start-up Spark Systems announces the successful completion of the first close of Series BB funding round raising a total of S$15m (US$10.5m) from two Tier 1 global banks and a South East Asia focused investment firm. Spark Systems describes themselves as builders of the next-generation high speed trading platforms that are resilient, ultra-low latency and cost efficient.

Incoming investors are Citi and HSBC as well as OSK Ventures. They will join the existing investor base; Vickers Venture, Dymon Asia Ventures, Dymon Asia Capital, Jubilee Capital, FengHe and Goldman Sachs, a leading global investment banking, securities and investment management firm.

Spark Systems Founder & CEO, Wong Joo Seng:

“We are grateful for the confidence placed in Spark Systems and the resources; in both deep insight and funding accorded to us to develop a premier deep tech trading platform by some of the most respected and influential financial institutions in the world. That this is occurring during a period of significant macro-economic upheaval further underscores the strategic nature of the FX industry infrastructure requirement we are addressing.”

In their statement, they said that the funds raised will enable Spark Systems to further enhance its in-house technology capabilities. Spark Systems is headquartered in Singapore and is a grant recipient of the Financial Sector Development Fund (FSDF) under the Financial Sector Technology and Innovation (FSTI) scheme from the Monetary Authority of Singapore (MAS).

Featured image: Spark Systems Team via Facebook page