Spare8 - About the company
Spare8 is a seed company based in Mumbai (India), founded in 2021 by Shardul Saiya and Ronit Harisingani. It operates as a Digital gold investment options. Spare8 has raised $770K in funding from 2am VC, with a current valuation of ₹*****. The company has 33 active competitors, including 8 funded and 1 that has exited. Its top competitors include companies like Jar, Finfinity and GoldMoney.
Company Details
Digital gold investment options. It allows users to invest in digital gold starting with small amounts. The platform provides features such as automated savings, rewards programs, and the option to redeem digital gold for physical gold. They emphasize security measures to protect investor assets, including the use of secure vaults and encryption.
- Website
- spare8.com
- Social
- Email ID
- *****@spare8.com
- Phone Number
- +91 **********
- Registered Address
- Ground Floor, 2, Sita Mahal, 624, Linking Road, Khar Colony, Mumbai, Mumbai, Maharashtra, India, 400052
Legal entities associated with Spare8
Spare8 is associated with 1 legal entity given below:
Legal Entity Name | Date of Incorporation | Revenue | Latest Employee Count | Documents |
|---|---|---|---|---|
SPARE8 PLATFORMS PRIVATE LIMITED CIN: U72900MH2020PTC351655 , India, Active | Dec 10, 2020 | $12.7K (As on Mar 31, 2025) | - |
Sign up to download Spare8's company profile
Spare8's funding and investors
Spare8 has raised a total funding of $770K over 2 rounds. Its first funding round was on Jul 29, 2022. Its latest funding round was a Angel round on Jan 22, 2025 for $*****. 1 investor participated in its latest round. Spare8 has 8 institutional investors and 7 angel investors.
Here is the list of recent funding rounds of Spare8:
Date of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
Jan 22, 2025 | 1720842 | Angel | 4922408 | 3031010 | 4739656 | 5894719 |
Jul 29, 2022 | 9345511 | Seed | 7278701 | 6439368 |
Access funding benchmarks and valuations. Sign up today!View details of Spare8's funding rounds and investors
Spare8's founders and board of directors
Founder? Claim ProfileThe founders of Spare8 are Shardul Saiya and Ronit Harisingani.
Here are the details of Spare8's key team members:
- Shardul Saiya: Co-Founder of Spare8. They serve on the board of 1 company.Contact Info: 1 email address and 1 phone number
- Ronit Harisingani: Co-Founder of Spare8. They serve on the board of 1 company.Contact Info: 1 email address and 1 phone number
Spare8's Board of Directors
Spare8's board has 3 active members. Shardul Saiya and Ronit Harisingani are part of team and Ravi Gopal Harisingani is independent board member.Here is the list of Spare8's board of directors:
Name | Type | Representing | Status | Duration |
|---|---|---|---|---|
Team | - | Current | 4y 2m | |
Team | - | Current | 5y 4m | |
Independent board member | - | Current | 5y 4m |
View details of Spare8's Founder profiles and Board Members
Spare8's employee count trend
Spare8 has 6 employees as of Mar 26. Here is Spare8's employee count trend over the years:
Uncover Spare8's growth story! Sign up today!
Access Tracxn on any website
Install Tracxn ExtensionOur Google Chrome extension lets you view company details while browsing their websites
Spare8's Competitors and alternates
Top competitors of Spare8 include Jar, Finfinity and GoldMoney. Here is the list of Top 10 competitors of Spare8, ranked by Tracxn score:
Get insights and benchmarks for competitors of 2M+ companies! Sign up today!
Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st | Platform providing digital gold savings plans and online gold purchases | $63.3M | 71/100 | ||
2nd | Provider of a platform for loans, investments, and wellness products | $4.63M | 59/100 | ||
3rd | Bullion trading and vaulting company | $10.6M | 59/100 | ||
4th | Provider of a digital platform for buying, selling, and storing 24K gold | $2.38M | 58/100 | ||
5th |  Twelve Club 2021, Delhi (India), Funding Raised | Provider of marketplace platform for personal loans | - | - | 55/100 |
6th | Online alternative investment platform for gold | - | - | 48/100 | |
7th | Alternative investment platform for gold | - | - | 47/100 | |
8th | Platform for automated digital gold savings and investments | $12.3M | 46/100 | ||
9th |  My Digi Gold 1994, Kolkata (India), Funding Raised | App-based alternative investment platform for gold and diamonds | - | 42/100 | |
10th | Digital gold investment app allowing users to purchase and redeem gold as jewelry at partner jeweler stores | $1.7M | 42/100 | ||
12th | Digital gold investment options | $770K | 36/100 |
Get insights and benchmarks for competitors of 2M+ companies! Sign up today!Looking for more details on Spare8's competitors? Click here to see the top ones
Spare8's Latest cap tables and shareholding
Founders (largest shareholder) own 70.83%, Funds own 25.30%, Angels own 1.68% and Other People own 2.19%. The net worth of Spare8's founders is INR 15.8Cr as of Jul 29, 2022.
Shareholders Name | Post Round Holding % | Net worth | Cumulative Investment | Realised Returns | Unrealised Returns | Return Multiple |
|---|---|---|---|---|---|---|
Founder | 70.83% | 15.8Cr | 6252302 | 5567929 | 2532928 | 1303562 |
7181269 | 6329904 | 3287484 | 7441264 | 1527946 | 6040900 | |
Fund | 25.30% | 5.63Cr | 6155027 | 6942940 | 9696191 | 7077897 |
2333839 | 4982199 | 9537987 | 4085347 | 3837836 | 9030872 | |
29227 | 73673 | 82388 | 28650 | 50462 | 96191 | |
Angel | 1.68% | 37.5L | 3 | 1 | 8 | 5 |
Other People | 2.19% | 48.7L | 50 | 41 | 58 | 95 |
Total | 100.00% | 22.3Cr | 2400742 | 2375862 | 1686144 | 7391866 |
To unlock detailed Cap Table of Spare8 Sign up today!Notes: The column Net Worth represents the net worth of investments made by that entity, as per the latest cap table.
DisclaimerView more details of Spare8's Shareholding
Spare8's Investments and acquisitions
Spare8 has made no investments or acquisitions yet.
Reports related to Spare8
Here is the latest report on Spare8's sector:
News related to Spare8
•
B2B2C fintech startup Spare8 raises funding to reorganize India's Gold Investment landscapeIndian Startup News•Jan 22, 2025•Spare8
•
Spare8 Elevates the Digital Gold Investment Paradigm in Partnership with MoneyWare, EbixCash's SaaS Investment PlatformAsian News International•Feb 09, 2024•EbixCash, Spare8
•
Spare8 allows users to purchase gold in small increments, as low as Re 1Entrackr•Apr 20, 2023•Spare8
•
•
Spare8 raises pre-seed round led by 2am VC, othersEntrackr•Jul 29, 2022•Spare8, 2am VC, Broom Ventures, Incisive Ventures and 2 others
•
FinTech Firm Spare8 raises USD 770 K round led by 2am VCEnablers•Jul 29, 2022•Spare8, 2am VC, Broom Ventures, Incisive Ventures and 2 others
Get curated news about company updates, funding rounds, M&A deals and others. Sign up today!Are you a Founder ?
FAQs about Spare8
Explore our recently published companies
- Ones System - Shah Alam based, 2020 founded, Unfunded company
- Onboard Technologies - George Town based, 2021 founded, Unfunded company
- AdPlay.ai - Kuala Lumpur based, 2025 founded, Unfunded company
- Avesta Labs - Ahmedabad based, 2025 founded, Unfunded company
- Babylon Vertical Farms - Petaling Jaya based, 2016 founded, Unfunded company
- InsureKU - Petaling Jaya based, 2021 founded, Unfunded company
