Suberra secures US$2.7M to make web3 subscriptions and payments seamless
Quick take:
- Web3 subscriptions and payments platform Suberra raises $2.7 million to date.
- The merchants’ platform is slated to go live in Q4 2022. The waitlist is now open.
Suberra has raised $2.7 million to date over two funding rounds from investors like Spartan Capital, Delphi Digital, Hashed, Newman Capital, Defiance Capital, Arcane Group, and TsingTech Ventures. They are also supported by angel investors such as Alex Svanevik (Nansen), Liu Tianwei (Group Deputy CEO at Fazz, Co-Founder of Xfers & StraitsX), Han Wen Chua (Voyage Finance), Nicholas Tong and Yenwen Feng (Perpetual Protocol).
Suberra is building a cryptocurrency payments platform for businesses to accept automated recurring subscriptions and one-time crypto payments globally in a fast and easy way. It can integrate alongside existing web apps and allow businesses to collect crypto in addition to credit cards.
Funds raised will be used to launch the merchants’ platform and drive the next phase of Suberra’s development, which include accelerating growth, scaling up operations, and expanding the team.
“The lack of good payment solutions for businesses has held back the growth of crypto payments. Suberra makes it super simple to accept crypto for anything from anyone, including recurring subscription payments, and we’re excited to support them as they unlock this strong use case for businesses looking to embrace web3”
- Spartan Capital
“People have been asking us to pay for their Delphi pro subscriptions in crypto forever. Suberra will finally allow us to do this and we’re very happy to be both early users and investors.”
— Delphi Digital
Suberra - The one-stop Web3 payments integrator
In September 2021, co-founders Edison (ex-Zilliqa) and Zac (ex-Alibaba) left their jobs to start Suberra. They had a clear goal: To make it easier for people to transact securely on the web.
“You can pay for subscriptions with crypto, but only for annual subscriptions. Sometimes, you have to email them to pay with crypto. "Well, I have $USDC, why can't I pay with that?" There are businesses that make money from the crypto business, but not accept crypto payments. It's not because they don't want to; the current payment processors simply can't do recurring subscriptions for them.”
- Edison Lim, CEO Suberra
Suberra is a non-custodial solution that allows for payments and subscriptions on any blockchain network, starting with Ethereum, Polygon and Avalanche, with the goal of supporting most major blockchains and L2s by end-2023. Suberra’s solution makes it easy for merchants to connect with over 100 wallets like Metamask, Ledger, and Argent, enabling users with more options.
In Q4 2022, onboarded merchants will be able to offer crypto payments for subscriptions on multiple blockchains. They will benefit from instant settlements, global outreach and low fees. End-users will enjoy gasless transactions (a major pain point for crypto payments today), with secure and hassle-free payments that pull funds from the payer’s account to the merchant directly.
The subscription function of Suberra’s platform is a marked improvement from the payment solutions currently available. It can be used for SaaS-based services, memberships, paid access to premium content by content creators, in-game battle passes, etc. The current tedium of repeated reminders for payments is replaced with a one-time approval, with recurring payments made on behalf of the user from the crypto wallet of the user’s choice.
For end-users, the ease of using Suberra’s subscription tool will be similar to making subscription payments on credit cards. This is further augmented by subscription NFTs that serve as Proof-of-Membership. Merchants can define various subscription parameters to suit their business, such as usage models, renewal periods, and transfer restrictions.
Through powerful integrations, merchants on Suberra can tap on the plethora of tools available to redesign the user engagement experience for crypto natives. Suberra’s subscription NFTs are composable with tools that support ERC-721 standards. That means the NFTs can be displayed on portfolio managers (Nansen, Zapper), Marketplaces (Opensea), and natively on wallets. Integrations with tools like collab.land allow for gated content on Discord, Telegram, and Notion.
What’s Next for Suberra
The subscription product will launch in Q4 2022. Thereafter, the team will focus on Checkout Pages and Payment Links. Checkout Pages will enable merchants to collect Web3 payments on a hosted page with minimal integration effort required. Payment Links will be a no-code solution for anyone to sell products online without requiring a website. These solutions can be used for simple e-commerce, event ticketing, content platforms, and game marketplaces.
6-month fee waiver for pre-registered early users
Subera is now accepting pre-registrations for the product launch waitlist. Merchants will be the first to experience the next phase of cryptocurrency payments, made simple and seamless. Suberra will be waiving fees for initial merchants for the first 6 months. Interested merchants can sign up here.
For the latest, follow Suberra’s latest updates on Twitter!
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