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Geneva commodity technology specialist Sparta raises USD 6 million


5 April 2022

Sparta, a provider of live trading insights for commodity traders, has raised a USD 6 million in a Series A funding round from Singular.

Sparta was founded in 2020 by two former traders, Miles Moseley, and Felipe Elink Schuurman, to answer a common problem shared by most traders: 90% of pricing data required to make trading decisions is kept in silos and shared manually by voice, email, or chat.

This information is then manually processed into trading insights through Excel spreadsheets and there is a lack of centralized databases to be able to analyze historical price movements and trends. Consequently, traders do not have all of the information that they need, when they need it, to make fully informed decisions in a fast-moving market.

Sparta breaks the existing data silos and combines the physical and paper markets to provide traders with live access to global raw prices, from futures and swaps to forward freight and physical premiums.

The Geneva-based company also streamlines and automates traders’ day-to-day tasks by turning this information into actionable trading insights such as live global arbitrage opportunities or live price discovery. Finally, it also leverages on its proprietary historical dataset to help traders get the right timing in the market and provide predictive analytics to anticipate market movements.

With USD 6 million raised in a Series A funding round led by Singular, Sparta will be able to further develop its technology platform, tap into additional geographic areas and expand its product offering beyond gasoline to become the leading information and pricing platform for all commodity traders.

“A year and a half after launching, and having more than 45 customers in Europe, USA, and Asia, we have successfully demonstrated a product-market fit. The time has come for us to accelerate our growth. Our goal is to provide even more impactful and qualitative data, develop our analytics offering and expand our reach to the Middle East and Asia, as well as ambitiously expand into all commodity asset classes”, said Felipe Elink Schuurman, Co-founder and CEO of Sparta.