What is SpherePay? SpherePay Review

SpherePay is a financial and lifestyle service company headquartered in Singapore. It currently mainly operates three businesses: mobile payment, merchant discounts, and consumer installment. The company is committed to creating a cashless payment platform in the Southeast Asian market.

About SpherePay

According to data provided by SpherePay, since its launch in 2017, the product has more than 5 million registered users and 300,000 monthly active users. Offline partners in Southeast Asia have cooperated with about 10,000 merchants in different industries including catering, entertainment, education, tourism, and hotels.

· SpherePay was founded in November 2017. Its integrated mobile application allows consumers and businesses to make cashless payments and P2P transfers. It allows users to connect their credit and debit cards to the application and pay directly in the merchant's store by scanning the QR code. At the same time, this platform also supports the "buy now, pay later" function.

SpherePay currently operates in Singapore, Thailand, Indonesia and other places, and plans to enter other Southeast Asian markets such as Malaysia and Vietnam.

ICO Events

On February 5, 2018, SpherePay officially launched its ICO (Initial Token Offering). SpherePay announced that it will cooperate with local blockchain fund ODYSSEY (OCN) to build a blockchain platform based on Ethereum. According to the white paper published by the platform, SpherePay will issue a total of 10 billion tokens SAY, of which 40% will be sold through ICO.

However, according to online reports, the SpherePay blockchain project was terminated in March 2018.

Development History

- In November 2017, SpherePay was launched in Singapore.

-In November 2017, SpherePay completed its Series A financing of US$1.3 million. Investors included BDC API Metal Corporation, Anges Québec Capital and Anges Quebec.

-In December 2017, SpherePay announced its upcoming regional expansion into Indonesia and Thailand.

-On January 30, 2018, SpherePay announced that it had received US$10 million in financing and released its own operating data.

-On February 13, 2018, SpherePay announced a strategic partnership with Chulian, received investment from Chulian Ture, and reached a strategic partnership.

-In March 2018, SpherePay received a new round of financing of US$5 million, which was jointly invested by Shuidi Mutual Aid, Extraordinary Fund, BIB (Blockchain Investment Bank) and Haru Capital.