Equity management startup, Sprout secures US$3 million in seed funding led by Sequoia Indian Capital and announces the launch of Folium, a token management platform.
Hong Kong-based startup Sprout has raised US$3 million in its external funding round, which will be used for the company’s development and growth targets. The startup has shown true potential since its founding in 2019, this seed round led by Sequoia Capital India affirming the company’s strong appeal over the past years.
The fundraising included other venture capitalists and firms, such as Sovereign’s Capital, NDN2 Vision Fund, Firsthand Ventures, as well as other Hong Kong SAR Government–led funding programs.
The seed capital raised works as an important investment into the startup’s expansion plans to launch a new token management platform, Folium.
Cryptocurrency and digital tokens being on the rise have caused a spiralling trend, drawing in entrepreneurs and startups to lead the digital space. With Hong Kong opening up and reforming the market, it has set out to be more exclusive of digital currencies, and no longer a stranger to the blockchain and crypto world.
Sprout was founded by two veterans entrepreneurs in the field looking to share their years of experience and expertise. The equity management startup empowers its stakeholders with seamless finance management and knowledge with the aid of its well-devised equity management software. Taking on multiple industries with their strong organic expansion, including but not limited to FinTech, e-commerce, insurance, and more.
With the launch of Folium, Sprout looks to widen their scope to token management to enable solutions for the future of cryptocurrency.
Sprout co-founder Andy Lee stated, “There are a lot of employees and people in the Asia-Pacific region who understand tokens more than stocks, so it’s very tempting to have a company [in the region]. There is something to think about, especially if they move to web3 with a token.”
As the startup continues to pave the way for transparency and traceability of digital monetary funds, their further expansion will offer a decentralised network where digital assets can be better tracked and managed.
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