# Spark Systems Pte.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/spark-systems-pte

- Industry: Financial Services
- Headquarters: Singapore, Singapore
- Website: http://www.sparksystems.sg
- Total disclosed funding: $28M
- Latest round: Series B (Aug 18, 2021)
- Investors on record: 8

## About

Based in Singapore, Spark Systems Pte. Ltd offers advanced electronic foreign exchange solutions, specializing in ultra-low latency aggregation technology for financial institutions, enhancing trading efficiency and client experiences across global markets.Founded in 2016, Spark Systems Pte. Ltd focuses on delivering innovative eFX trading solutions to financial institutions. The firm has successfully completed a total of 7 deals, with its most recent funding round being Series C, raising USD 5.833 mn on October 4, 2024. The company was co-founded by Ahmed Salah, Ahmed Zakaria, Joo Seng Wong, Sergey Nikitchin, and Tingsong Ye, with Henry Low and Joo Seng Wong serving as CEOs.Spark Systems specializes in providing a cutting-edge ultra-low latency aggregator and eFX (electronic foreign exchange) solution platform designed for financial institutions. Their core offering includes a proprietary trading platform that seamlessly integrates advanced technologies such as open architecture CEP (Complex Event Processing) technology, a unique binary messaging protocol for price aggregation, and real-time risk management capabilities. This platform is engineered to enhance trading efficiency, improve fill rates, and provide clients with a customized trading experience tailored to their specific needs. Spark Systems serves a diverse clientele, including banks, hedge funds, and other financial institutions across various geographical markets, with a focus on regions such as Asia, Europe, and North America.In 2022, Spark Systems generated revenue of USD 2,450,830.30, while reporting an EBITDA of USD -5,473,009.20. Revenue generation is primarily driven by subscription-based transactions involving their eFX trading platform and associated services, with clients entering agreements to access the platform for trading across various product types.In October 2024, Spark Systems Pte. Ltd raised USD 5.833 mn in Series C funding from investors including AT Global Markets LLC and Citibank, with returning investor HSBC Bank also participating. The company plans to utilize this funding to enhance its institutional offerings, focusing on developing new products and expanding into new geographic markets. Specific targeted regions for expansion have not been detailed, but the company aims to leverage the new financial resources to improve its service provisions and meet growing client demands.

## Funding rounds

- Series B, Aug 18, 2021, $13M — HSBC Bank, Phillip Private Equity, Citi Ventures, OSK Ventures International Berhad
- Series B, Oct 4, 2017, $6.1M — Jubilee Capital Management, V V Pentafond Pte. Ltd.
- Series A, Sep 14, 2017, $8.7M — Dymon Asia, Jubilee Capital Management, Integra Partners, V V Pentafond Pte. Ltd.
- Seed, May 1, 2016 — Integra Partners

## Investors

- Integra Partners (https://capitalatlas.ai/funds/integra-partners) — Seed, Series A
- Dymon Asia — Series A
- Jubilee Capital Management (https://capitalatlas.ai/funds/jubilee-capital-management) — Series A, Series B
- V V Pentafond Pte. Ltd. — Series A, Series B
- HSBC Bank — Series B
- Phillip Private Equity (https://capitalatlas.ai/funds/phillip-private-equity) — Series B
- Citi Ventures (https://capitalatlas.ai/funds/citi-ventures) — Series B
- OSK Ventures International Berhad (https://capitalatlas.ai/funds/osk-ventures-international-berhad) — Series B