Sparta raises $6 million from Singular to expand its commodity technology offering

Geneva, Switzerland – March 22, 2022 Sparta, a provider of live trading insights for commodity traders, today announced that it has raised a six-million-dollar Series A funding round from Singular. The investment will enable Sparta 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.

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. Sparta 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. Sparta 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 Sparta traders save up to one week a month and are the first to spot market opportunities before others.

Felipe Elink Schuurman, CEO
Miles Moseley, COO

“We are extremely pleased to welcome Sparta to our portfolio and to join them in their adventure to become the leading end-to-end platform for traders in all commodities verticals. Miles and Felipe have had tremendous success in their early days, they clearly understand the industry and the customer needs and have a clear vision on how to provide powerful and impactful solutions to such a strategically important market”, said Raffi Kamber, Co-Founder and General Partner at Singular.

Raffi Kamber, Co-Founder and General Partner at Singular

“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. “From day one, Raffi and the Singular team clearly understood our value proposition and shared our strategic view. We are thrilled to have Singular on our side as we scale up our business.”

Felipe Elink Schuurman, Co-Founder and CEO, Sparta

About Singular

Singular is a European Venture Capital firm partnering with remarkable founders building transformative companies. The company takes a highly collaborative approach and is committed to bringing start-ups a tangible value, from their earliest moments through all stages of their growth. For more information, visit www.singular.vc.

About Sparta

Trading is all about knowing when to make the right decisions. Sparta is a technology software provider, which helps commodity traders to have a global view of the market, capture more market opportunities faster, and ultimately, make more money. For more information, visit www.spartacommodities.com.

LinkedIn: https://www.linkedin.com/company/sparta-commodities
Twitter: https://twitter.com/spartacommo

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