Estonian startup SPARQ raises $510K in the second round of seed funding
Tallinn-based fintech startup SPARQ, a personal finance platform for everyday use, has raised $510K from the Baltic International Bank – a joint-stock company registered in the Republic of Latvia that has been successfully operating in the field of financing since 1993. SPARQ has raised a total of $580K in funding over two rounds.
Founded in 2019 by Danila Belokons, the startup`s mission is to consolidate and optimize people’s interaction with money. SPARQ is developing in three main directions: advanced analytics, loyalty system, and creating a community for increasing financial literacy. Also, the startup combines the FinTech market, the banking sector, and retail companies with the aim to create a positive experience for millennials, by providing free payments in the EU, a loyalty system, and modern FinTech solutions.
The raised funds will be used to fund the development of the personal-finance platform for millennials. The company wants to differentiate itself by blurring the boundaries between the ordinary world and the world of finance. Currently, the company is focusing on clients from the European Economic Area and the Baltic region.