# Sphere Laboratories

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/sphere-laboratories

- Industry: Software
- Headquarters: Wilmington, US
- Website: www.spherepay.co/
- Total disclosed funding: $2.8M
- Latest round: Seed (Feb 28, 2024)
- Investors on record: 8

## About

Based in Delaware, US, and founded in 2023 by CEO Arnold Lee and CTO Luigi Charles, Sphere Laboratories Inc., a.k.a. Sphere operates as a financial technology company that provides global payment solutions that simplify cross-border transactions and currency conversions. In December 2024, Sphere raised USD 5 million in venture funding co-led by Coinbase Ventures and Kraken Ventures, with participation from Stakeholder Ventures Management, Anza, Anagram, GM Echo Manager, Overclock, Pyth Data Association, and Temporal.

Sphere provides currency transfer solutions that cater to various business needs. The core offerings allow users to send and receive payments in multiple currencies, including USD, MXN, BRL, and EUR, at competitive exchange rates. Sphere's platform simplifies money movement, supporting a range of transaction methods such as wire transfers, bank transfers, and card payments. The company’s payment links are designed to be versatile and customizable, facilitating both one-time purchases and recurring subscriptions.

Sphere generates revenue through transaction fees applied to its payment processing services. The company’s transaction structure includes B2B engagements, where businesses utilize Sphere’s platform to facilitate payments to vendors or suppliers. Sphere also offers customized enterprise pricing plans, which are tailored to meet the needs of larger organizations.

The company plans to use its proceeds from December 2024 funding to support regulatory compliance and risk management functions.

## Funding rounds

- Seed, Feb 28, 2024, $2.8M — TCG, Stakeholder Ventures Management, Solana Labs, Inc., Republic Capital, Big Brain Holdings, Hudson River Trading Corporate Development/Ventures, Jump Crypto, Steel DAO

## Investors

- TCG (https://capitalatlas.ai/funds/tcg) — Seed
- Stakeholder Ventures Management — Seed
- Solana Labs, Inc. — Seed
- Republic Capital (https://capitalatlas.ai/funds/republic-capital) — Seed
- Big Brain Holdings (https://capitalatlas.ai/funds/big-brain-holdings) — Seed
- Hudson River Trading Corporate Development/Ventures — Seed
- Jump Crypto — Seed
- Steel DAO — Seed