Trading platform Sparrow brings $3.5m back to its nest

June 25, 2020

Sparrow, an options trading platform, has bagged $3.5m in its Series A round as it looks to increase its product development.

HDR Group led the investment, with additional contributions coming from Signum Capital, Du Capital and FinLab EOS VC.

Sparrow launched in June 2019 and has seen more than $150m in options trading volume. The FinTech platform aims to give users a simply way to control risk and monetise their digital assets.

Users can trade bitcoin and Ethereum options or swap digital assets for no additional fees.

Sparrow CEO Kenneth Yeo said, “We are really pleased that the round received strong support despite the harsh economic climate caused by COVID-19. The strong interest from investors validates our view that digital asset options will be the next high-growth market.”

“We would like to thank our partners and users for their overwhelming support. Volumes have tripled since the start of the year. With this round of funding, we are in a good position to bring even more exciting trading products to the market.”