Digital Assets Trading Platform Sparrow Raises US$4.4 Million Series Aby Fintech News Singapore November 12, 2021
Sparrow, a digital assets trading platform headquartered in Singapore, has raised US$4.4 million in Series A funding led by Gain Loyal, an investment company focusing on real estate investments in Asia.
The company intends to use the funds to create more innovative solutions and accelerate digitalisation to enhance the quality of its platform in terms of security, user experience, and compliance.
Sparrow also aims to attract talent in risk management, trading, technology, and operational excellence.
Additionally, Sparrow will also improve its KYC, AML, and CFT regulatory framework and continue to grow its workforce across all its functions.
As of October 2021, Sparrow said generated over US$3.5 billion of notional volume through its trading platform and the company had more than US$300 million of assets under management.
“We are pleased to have Gain Loyal Pte Ltd as our investor.
This long-term partnership puts us in a great position to boost Sparrow’s competitive edge to serve financial institutions and wealth managers better,”
said Kenneth Yeo, CEO of Sparrow.
Featured image: Edited from Unsplash