About SPARE
SPARE is a company based in West Hollywood (United States) founded in 2013 by Dontra Hughes and Tim Caspersen.. SPARE has raised $20 thousand across 1 funding round from investors including Techstars. SPARE operates in a competitive market with competitors including Sonect, SOCASH, PocketATM, Airbanq and Nakitex, among others.
- Headquarter West Hollywood, United States
- Founders Dontra Hughes, Tim Caspersen
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Spare Cs, Inc.
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Annual Revenue
$15.28 K2079as on Dec 31, 2016
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Net Profit
$-268.7 K-29068as on Dec 31, 2016
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EBITDA
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Total Equity Funding
$20 K (USD)
in 1 rounds
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Latest Funding Round
$20 K (USD), Seed
Jun 01, 2022
- Investors
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Employee Count
Employee Count
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Funding Insights of SPARE
SPARE has successfully raised a total of $20K through 1 strategic funding round. The most recent funding activity was a Seed round of $20 thousand completed in June 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Seed — $20,000
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First Round
First Round
(01 Jun 2022)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2022 | Amount | Seed - SPARE | Valuation | Techstars |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in SPARE
SPARE has secured backing from 1 investor, including venture fund investors. Prominent investors backing the company include Techstars. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Startups are accelerated globally without sector restrictions through structured programs.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by SPARE
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - SPARE
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Spare Comparisons
Competitors of SPARE
SPARE operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Sonect, SOCASH, PocketATM, Airbanq and Nakitex, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Cash withdrawals are enabled at kiosks and shops via smartphones.
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| domain | founded_year | HQ Location |
Cash withdrawals are enabled through a mobile app platform.
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| domain | founded_year | HQ Location |
App-based cash dispensing and withdrawal solutions are provided for users.
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| domain | founded_year | HQ Location |
Offers a mobile app for cash checking and management.
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| domain | founded_year | HQ Location |
Offers an app-based platform for convenient cash withdrawals.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Spare
Frequently Asked Questions about SPARE
When was SPARE founded?
SPARE was founded in 2013 and raised its 1st funding round 9 years after it was founded.
Where is SPARE located?
SPARE is headquartered in West Hollywood, United States. It is registered at West Hollywood, California, United States.
Who is the current CEO of SPARE?
Dontra Hughes is the current CEO of SPARE. They have also founded this company.
Is SPARE a funded company?
SPARE is a funded company, having raised a total of $20K across 1 funding round to date. The company's 1st funding round was a Seed of $20K, raised on Jun 01, 2022.
What is the annual revenue of SPARE?
Annual revenue of SPARE is $15.28K as on Dec 31, 2016.
What does SPARE do?
SPARE was founded in 2013 and is based in West Hollywood, United States. Operations focus on the fintech sector, where cash access is facilitated through virtual ATMs at local small businesses. Services provided include check cashing, peer-to-peer payments, and credit building tools. The application is offered on both Android and iOS platforms to support consumer financial needs.
Who are SPARE's investors?
SPARE has 1 investor. Key investors include Techstars.
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