Since Bitcoins were first produced a good ten years ago, crypto currencies have undergone a speculative development. Today there are said to be over 5,000 crypto currencies with a market capitalization of more than 260 billion US dollars. Every day there are more and more and an end to the boom is not in sight. The virtual currencies are traded worldwide via corresponding platforms. One of them is Sparrow. This article is based on the unique List of the 200 most important venture capital investors Germany.
-
€299,99 Incl. VAT
- Article based on database of the 200 most important venture capital investors in Germany
- Useful information such as investment focus, selection of top investments, year of foundation
- Direct download as Excel file via the Listenchampion online shop
- Free preview file available on request
- Database is perfect for identifying investors and for partner and customer acquisition
3.5 million dollars for the further development of a trading platform
Sparrow specialises in trading Bitcoin and Ethereum options. Such options can be used for speculative as well as hedging purposes. The company is based in Singapore. Sparrow has now secured $3.5 million in Series A financing to accelerate its platform development. The financing round was led by HDR Group, whose central company is HDR Global Trading Limited in the Seychelles. HDR itself operates a leading platform for Bitcoin-related derivatives trading through BitMEX. In addition to three other investors, the Frankfurt-based FinLab AG was also involved in the financing round.
FinLab AG is a listed German venture capital investor, which since its foundation in 2003 has focused on investments in FinTech start-ups in Europe. The focus has always been on digital business models in the areas of finance, stock exchange trading and insurance. A special focus is on applications of block chain technology. The Sparrow engagement fits into this strategy, but represents an innovation, as it is the first time that the company has ventured into Asia. The Sparrow investment is made through FinLab EOS VC, a venture capital fund that FinLab has set up together with the blockchain software publisher Block.one. FinLab aims at a long-term participation and support in its engagements. This also applies to the Sparrow investment.
Source: Listenchampion Picture source: Unsplash
