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Estonia-based SPARQ said to close €440,000 investment

Estonian personal finance startup SPARQ has reportedly closed a €440,000 investment from the Baltic International Bank, extending the seed round to a total of €500,000.

Founded in 2019, SPARQ is now looking to begin the development of the early access stage of its platform, which will focus on the creation of the dashboard, according to a report from eu-startups. This feature will help users plan their financial and get an overview of their spending, bill payments and savings.

Funds will also be geared to increasing the marketing efforts of the platform.

The personal finance startup is a mobile-based platform that offers analytic tools for tracking and categorising finances, subscriptions and recurring payments.

Earlier in the year, fellow Estonian FinTech platform Montonio closed a €500,000 pre-seed funding round. The company offers a point-of-sale financing service to help consumers get quick access to loans at the time of need.

There has been a total of $1bn has been invested into FinTech companies based in the Baltics. Funding in the region looks to be recovering from a dismal 2019, which saw just $45.7m invested.

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