Spare8
The micro-investment app in India that helps make small digital savings and investments in gold.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
* | $770k | Seed | |
| Total Funding | 000k | ||
| USD | 2022 | 2023 |
|---|---|---|
| Revenues | 0000 | 0000 |
| % growth | - | 150 % |
| EBITDA | 0000 | 0000 |
| Profit | 0000 | 0000 |
| EV | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 |
Source: Dealroom estimates
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Spare8 is a digital gold investment platform that allows users to buy and sell gold backed by 100% physical gold stored in secure vaults. The platform is designed to be cost-effective, eliminating high fees typically associated with gold investments. Spare8 serves individual investors looking for a secure and convenient way to invest in gold. Operating primarily in the Indian market, the company leverages advanced security measures, including 256-bit encryption and bank-level security, to protect user data and assets. The business model revolves around providing a seamless user experience through a user-friendly app that is available 24/7, enabling users to invest in digital gold at their convenience. Spare8 generates revenue through its API services, which offer customizable and compliant solutions for businesses looking to integrate gold investment options into their platforms. Additionally, the company offers gold leasing opportunities, allowing users to earn up to 16% per annum through a simple and quick process.
Keywords: digital gold, physical gold, cost-free transactions, bank-level security, 24/7 accessibility, Indian market, user-friendly app, API services, gold leasing, secure vaults.