Suretly (SUR) – ICO Details & Review

Suretly is a provider of an international crowd vouching platform. The company offers users an investment alternative called crowd vouching, which allows customers to make money vouching for people who need a urgent loan.

Concept

This system works in a similar fashion than peer-2-peer lending, but customers do not lend money to each other directly. Instead, they vouch for borrowers who apply for a loan through lending partners. Customers can find borrowers that are looking for their loan’s guarantors.

The voucher can check the borrower’s profile and choose whether to vouch for the borrower if one’s default risk and earning amount suit them.Suretly charges 3% commission on each approved loan, regardless of whether the loan is repaid by its main borrower or not.

Suretly is a Russian fintech startup with offices in Moscow and New York.

The business model of Suretly has been successfully tested in Eastern Europe and in the coming months, the platform will be extended to the markets of Kazakhstan, US, and later in Latin America, Asia, and Europe.

Suretly’s project was launched in June 2016 thanks to the Russian National Research University “Higher School of Economics” business incubator’s support. It also became its first investor. In the fall of 2016, the project team was selected for “Generation S,” which is the largest business accelerator in Europe. It became a Financial & Banks Technologies track finalist. Suretly began working on US market penetration in February 2017, and entered Starta Accelerator in New York. Suretly was nominated for the Benzinga Global Fintech Award in the “Best Lending Platform, Tool or App” category in April 2017. It is one of the most prestigious fintech international awards.

Suretly Initial Coin Offering (ICO) Details

ICO Opening Date11th July 2017
ICO Closing Date11th Aug 2017
Websitehttps://www.ico.suretly.com/
Whitepaperhttps://suretly.com/docs/Suretly_whitepaper_v1.2.pdf
Start Price1 SUR = 0.1 ETH
Bonus / Pre ICO OfferSee below

Bonus / Pre-ICO offer

  • Investment in first hour – 70% bonus ( 1 ETH = 17 SUR)
  • Investment in next 23 hour – 50% bonus ( 1 ETH = 15 SUR)
  • In the future, the bonus will decrease in a linear progression every day, until it reaches zero.

Aspects to note and consider

  • In May 2017, Suretly raised approx $350,000 from 275 investors in 20 countries (in 2 days).
  • The main investor of the initial round is a Singapore based company SURcoin pte.ltd which have options of buying almost 15% of the whole tokens and they have the chance to start the ICO.
  • All funds raised from the ICO will be exchanged for Suretly Inc.’s 15% shares. The project aims to raise between $1.5 and $8 million.
  • There will be two types of tokens available in the platforms Ethereum and Waves.

As of 10th Aug, they have raised $2.2 million.

How to Invest

  • You need to create an account with Suretly
  • You can invest by sending BitCoin, Ethereum, LiteCoin, Waves

 

 

 

 

Summary

Unlike make other ICOs that are in idea phase, this business is already in existence and there are expansion plans in other markets.

Update: 23rd Aug

  1. The ICO is now closed. Suretly has raised a total of $2.8 million worth of tokens.

 

Current Market Price

 

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