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Spare logo — Empowering innovative businesses to build powerful products....

Spare

Empowering innovative businesses to build powerful products. Universal APIs to access financial data and make payments

Founded 2018 Saudi Arabia Saudi Arabia 16 employees Seed Total: $3.00M Finance, Financial Services +3

General Information

Company Name Spare
Founded Year 2018
Location Saudi Arabia Saudi Arabia
Employees 16
Industries Finance, Financial Services, Fintech +2
Funding Stage Seed
Social

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About Spare

Spare is a fintech startup based in Saudi Arabia, founded in 2018. The company's slogan, "Empowering innovative businesses to build powerful products," resonates with its core mission of providing universal APIs to access financial data and make payments. Holding licenses as an Account Information Service Provider and Payment Initiation Service Provider from the Central Bank of Bahrain and certified as an open banking provider in KSA under SAMA Fintech Regulatory Sandbox, Spare is at the forefront of open banking in the region. The company recently secured a $3.00M Seed Round investment on 20 December 2023 from notable investors including 500 Startups, Seedra Ventures, Vision Ventures, and Wa’ed Ventures. Spare's innovative approach in providing a secure platform for businesses to access customer financial data positions it strongly within the competitive landscape of the Finance, Financial Services, Fintech, Payments, and Banking industries. Having successfully navigated regulatory sandboxes in multiple countries, Spare's potential for growth and impact in the fintech space is certainly noteworthy.

Taxonomy: open banking, APIs, financial data, payments, Central Bank of Bahrain, AISP, PISP, SAMA Fintech Regulatory Sandbox, Kuwait Central Bank, regulatory compliance, innovation, seamless platform, secure platform, financial products

Funding Rounds & Investors (1)

View All
Funding Stage Amount Investors Lead Investors Date
Seed Round $3.00M 4
500 Startups Seedra Ventures Vision Ventures (VV)
500 Startups, Seedra Ventures +2
20 Dec 2023

Spare Alternatives & Competitors

Spare vs
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Spare vs
Finverse Technologies
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Spare vs
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Also compare with: Spare vs Lean Technologies Lean Technologies

FAQ About Spare

Empowering innovative businesses to build powerful products. Universal APIs to access financial data and make payments
Spare was founded in 2018.
Spare is headquartered in Saudi Arabia.
Spare operates in Finance, Financial Services, Fintech, Payments and Banking. Its work centres on open banking, APIs, financial data and payments.
Spare has approximately 16 employees.
Spare has completed 1 funding round, raising a total of $3.00M. The latest funding stage is Seed.
Top alternatives and competitors to Spare include Planky, Finverse Technologies, TrueLayer, Lean Technologies, BirAPI. These companies operate in related industries and serve comparable markets. You can compare them side by side on Bounce Watch.
Spare and Planky are both companies in similar industries. Compare their funding, team size, growth signals, and market position on Bounce Watch to see which one fits your needs.

Source: BounceWatch company record for Spare, https://bouncewatch.com/company/spare-1, updated 30 December 2024. When citing, please name BounceWatch and link this page.

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