About Spare8
Spare8 is a Technology company based in Mumbai (India) founded in 2021 by Ronit Harisingani and Shardul Saiya. Digital gold investments are enabled from small starting amounts. Spare8 has raised $770 thousand across 2 funding rounds from investors including 2am VC, VCAPL and Rajiv Shastri. The company has 1 employees. Spare8 was last valued at $2.8 million in July 2022. Its Indian entity Spare8 Platforms Private Limited reported revenue of ₹10.7 Lakh. Spare8 offers products and services including Spare8 App. Its focus areas include FinTech, Investment Tech, Alternative Investment Platforms and Commodities Trading. Its competitors include Jar, SafeGold and Augmont; 2 of its 3 listed competitors have raised funding.
Company details
Spare8 was founded in 2021 in Mumbai, India, within the fintech sector focused on digital gold. Investments in digital gold are permitted from minimal amounts through the platform. Automated savings plans and rewards programs are provided to users. Redemption of digital gold for physical gold is supported. Assets are protected via secure vaults and encryption protocols.
- Headquarters Mumbai, India
- Employees 1
- Founders Ronit Harisingani, Shardul Saiya
- Stage Minicorn
- SectorsTechnology
- Email••••••••
- Phone•••• ••••
- Website spare8.com
- Social LinkedIn X Facebook Instagram
- Legal Name Spare8 Platforms Private Limited
- Date of Incorporation 10 Dec, 2020
- Jurisdiction Mumbai, Maharashtra, India
- Annual Revenue₹10.7 Lakh
FY 2025 · -3% YoY
- Net Loss-₹1.10 Cr
FY 2025 · -1023% margin
- EBITDA-₹1.07 Cr
FY 2025 · -993% margin
- Total Equity Funding$770K (USD)
in 2 rounds
- Investors2am VC
& 12 more
- Employee Count1
Associated legal entities of Spare8
Spare8 operates through Spare8 Platforms Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Spare8 Platforms Private Limited CIN U72900MH2020PTC351655 | Active | 10 Dec 2020 | Mumbai, Maharashtra | ₹0.1 Cr | 2 | View details |
Products & Services of Spare8
Spare8 offers a comprehensive portfolio of products and services, including Spare8 App.
App for buying and managing digital gold with automatic savings
Apps and channels of Spare8
Spare8 publishes 1 mobile app with over 500K+ downloads.
Funding Insights of Spare8
Spare8 has successfully raised a total of $770K across 2 strategic funding rounds. 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 $770,000
- Total Rounds 2
- First Round $770,000
(Jul 2022)
- Investors Count 13
All 2 funding rounds of Spare8 with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan 2025 | Seed | – | – | ||
| Jul 2022 | $770,000 | Seed | $2.8M | 2am VC |
| Date | Valuation | Stage |
|---|---|---|
| Jul 2022 | $2.8M | •••••••• |
Last known valuation $2.8M (Jul 2022). 13 investors in total: 6 institutional and 7 angel.
Investors in Spare8
Spare8 has secured backing from 13 investors, including angel, venture fund, and institutional investors. Prominent investors backing the company include 2am VC, VCAPL and Rajiv Shastri.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Early-stage venture funding for sector-agnostic startups in India. | 2021 | 2amvc.com | Mumbai, India | |
Investments are directed by Broom Ventures toward early-stage tech companies. | broom.ventures | Palo Alto, United States | ||
Investment topics are explored through a dedicated blog platform. | incisive.vc | Seattle, United States | ||
Venture capital firm focused on multiple sectors | magic.fund | San Francisco, United States | ||
Financial services including portfolio management, alternative investments, and offshore products for high net-worth individuals and institutions. | 1990 | varaniumgroup.com | Mumbai, India | |
Capital investment activities are managed by the firm. | ||||
RS Rajiv Shastri | unknown_452cffecb58440a58 | |||
PA Param Agrawal | unknown_0aa9a3459e7b495f9 | |||
AA Ajay Adiseshan | unknown_c9dfae56dc5548b78 | |||
AM Anoop Mathur | Angel investor and founder of CORE Media, focusing on tech startups | unknown_5bf38a6d74724355b |
Investor details for Spare8
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
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Verified entity values are shown only after access is granted.
Board of directors of Spare8 Platforms Private Limited (Spare8)
Spare8 Platforms Private Limited is the primary company behind Spare8. The board of Spare8 Platforms Private Limited currently have 2 directors; the longest-serving is Ronit Ravi Harisingani, appointed in 2020. 2 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Ronit Ravi Harisingani DIN 08992043 | Director | 10 Dec 2020 | 5 yrs 10 mo | Spare8 Platforms Private Limited |
| Shardul Saiya DIN 09497529 | Director | 07 Feb 2022 | 4 yrs 9 mo | Spare8 Platforms Private Limited |
People of Spare8
2 people are tracked at Spare8 (2 in leadership); the tracked headcount is 1.
| Name | Role | Group |
|---|---|---|
| Co-Founder | Leadership | |
| Co-Founder | Leadership |
Complete people profiles for Spare8
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
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Verified entity values are shown only after access is granted.
Financials of Spare8
Figures of Spare8 Platforms Private Limited, the primary company behind Spare8, for FY 2025. Revenue was ₹10.7 Lakh (-3% year on year). Net loss was -₹1.10 Cr (-1023% margin). EBITDA was -₹1.07 Cr (-993% margin). Revenue has grown at a compounded annual rate of +439% over three years.
- ₹10.7 LakhRevenue · FY 2025 · -3% YoY
- -₹1.10 CrNet loss · -1023% margin
- -₹1.07 CrEBITDA · -993% margin
- ₹35.3 LakhPaid-up capital
- +439%Revenue CAGR, 3 years
Balance sheet, profit and loss, cash flow and ratios of Spare8 Platforms Private Limited are on its company page.
Detailed financial statements for Spare8
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of Spare8
4 dated milestones of Spare8 across 4 years, from founding to its latest funding, stage changes and deals.
- Founded Spare8 is founded.
- Funding First funding round of $770K.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Seed,.
Competitors of Spare8
Spare8 has 3 listed competitors in our database, 2 of them funded. They include Jar, SafeGold and Augmont.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| myjar.app | 2021 | Bengaluru, India | $63.3M | 251 | Jar is recognized as a leading digital gold savings app in India. | |
| safegold.com | 2017 | Mumbai, India | $2.38M | 61 | Provider of a digital platform for buying, selling, and storing 24K gold | |
| augmont.com | 1994 | Mumbai, India | 230 | Alternative investments in digital gold and silver are facilitated. |
Detailed competitors of Spare8
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of Spare8
The website of Spare8 (spare8.com) receives about 2.2K visits a month.
- Monthly visits2.2K
▼ 2.7% vs previous month
Top companies in Investment & Financial Technology
2 companies that operate in the same segment as Spare8 (Investment & Financial Technology) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
App-based brokerage stock trading platform | 1996 | Mumbai, Maharashtra, India | USD 38.41 M | USD 548.9 M | 3,830 | |
Smart investment portfolios are offered via an online platform. | 2015 | Bengaluru, Karnataka, India | USD 121.05 M | USD 635.51 K | 231 |
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Related news about Spare8
Complete news archive for Spare8
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Frequently Asked Questions about Spare8
Spare8 was founded in 2021 and raised its 1st funding round 1 year after it was founded.
Spare8 is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Spare8 is a funded company, having raised a total of $770K across 2 funding rounds to date. The company's 1st funding round was a Seed of $770K, raised on Jul 2022.
Spare8 has 1 employees.
The primary company behind Spare8, Spare8 Platforms Private Limited, reported revenue of ₹10.7 Lakh for FY 2025, down 3% year on year.
Spare8 was founded in 2021 in Mumbai, India, within the fintech sector focused on digital gold. Investments in digital gold are permitted from minimal amounts through the platform. Automated savings plans and rewards programs are provided to users. Redemption of digital gold for physical gold is supported. Assets are protected via secure vaults and encryption protocols.
Spare8 offers Spare8 App.
Spare8 has 13 investors. Key investors include 2am VC, VCAPL, Rajiv Shastri, Param Agrawal, and Broom Ventures.
The valuation of Spare8 is $2.8M as of Jul 2022.
Spare8 operates through Spare8 Platforms Private Limited.
The legal entities of Spare8 currently have 2 directors, including Shardul Saiya, Ronit Ravi Harisingani.