Spare Raises $5M Pre-Series A

Spare, a fintech company based in Saudi Arabia, has secured $5 million in a pre-Series A funding round. The Riyadh-based company provides a unified API platform that facilitates open banking, including account data access, identity verification, risk assessment, and account-to-account payments.

Investors

The funding round was led by anb Seed Fund, the venture capital arm of ANB Capital. Additional participants in the round included Vision Ventures, SEEDRA Ventures, 500 Global, Boubyan Ventures, and Middle East Venture Partners (MEVP).

Spare Use of Funds

Spare intends to use the capital to scale its open banking platform and API integrations, accelerate new product development, and drive its expansion across the GCC region.

About Spare

Founded in 2019 by Dalal Alrayes and Sourabh Shah, Spare provides critical financial infrastructure in the MENA region. Its product suite enables businesses to deliver faster and more secure financial services through a unified API that connects to over 35 financial institutions.

Funding Details

Company Website: https://tryspare.com

Company: Spare
Raised: $5M
Round: Pre-Series A
Funding Date: September 16, 2025
Lead Investor: anb Seed Fund
Additional Investors: Vision Ventures, SEEDRA Ventures, 500 Global, Boubyan Ventures, Middle East Venture Partners (MEVP)
Software Category: Fintech
Source: https://www.wamda.com/2025/09/saudi-fintech-spare-closes-5-million-pre-series-a