Spare8 is a technology company.
Spare8 has raised $800K across 1 funding round.
Spare8 has raised $800K in total across 1 funding round.
Spare8 has raised $800K in total across 1 funding round.
Spare8's investors include 100X.VC, Behold Ventures, Jenny Fielding, Scott Hartley, IA Ventures, Incisive Ventures, Pitbull Ventures, Charlie Songhurst, James Gwertzman, Stefan Lindeberg.
Spare8 is a fintech company specializing in digital gold investments through a micro-investment platform that allows users to invest their spare change from everyday digital transactions into gold. The platform is designed primarily for Indian investors, offering a seamless, user-friendly app with no transaction fees and the ability to redeem digital gold for physical delivery. Backed by physical gold, Spare8 provides steady returns of up to 16% annually, bridging traditional gold investment methods with modern digital finance. It also supports a distributor-first model, enabling scalable growth by empowering distributors with tools to onboard clients and earn recurring commissions, while expanding into corporate offerings like digital gold as an employee benefit[1][2][3][4].
Founded in 2021 by Ronit Harisingani and Shardul Saiya, Spare8 emerged from the recognition of inefficiencies in traditional gold investment in India’s culturally significant $12 trillion gold market. The founders leveraged their backgrounds to create a platform that digitizes gold investment, making it accessible and automated for everyday users. Early traction came from raising a pre-seed round of $800K in 2022 and building a growing user base through its innovative micro-investment approach. The company has since secured additional funding to scale operations, enhance technology, and expand its distributor network across India[1][3][6].
Spare8 rides the wave of fintech innovation in India, particularly the growing demand for digital investment solutions among a young, tech-savvy population with a deep cultural affinity for gold. The timing is favorable due to increasing smartphone penetration, digital payment adoption, and a shift towards micro-investments. The company’s platform addresses market inefficiencies by digitizing a traditionally physical asset, enabling wealth creation through automated, accessible investments. Its partnerships with enterprise SaaS platforms and focus on distributor networks position Spare8 as a key player in expanding digital gold’s reach, contributing to the projected $100 billion Indian digital gold market by 2025[1][4].
Spare8 is poised for significant growth as it scales its distributor network and enhances its technological infrastructure. Future trends shaping its journey include the rise of micro-investments, increasing digital financial literacy, and corporate adoption of digital gold benefits. The company’s influence is likely to expand beyond retail investors into institutional and corporate segments, further integrating gold into the digital economy. Its innovative gold leasing and API-driven solutions could set new standards in digital asset management, reinforcing its role as a fintech disruptor in India’s gold investment landscape[3][4].
Spare8 has raised $800K across 1 funding round. Most recently, it raised $800K Seed in July 2022.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jul 1, 2022 | $800K Seed | 100X.VC, Behold Ventures, Jenny Fielding, Scott Hartley, IA Ventures, Incisive Ventures, Pitbull Ventures, Charlie Songhurst, James Gwertzman, Stefan Lindeberg |