Spare8 offers a micro‑investment app that lets users invest spare change from online transactions and auto-invest a fixed amount each day, with an onboarding process the company says takes under 30 seconds. Founded in 2021 by Ronit Harisingani and Shardul Saiya and based in Mumbai, the startup targets users in tier‑II cities and beyond. Its largest customer base comes from Jaipur, Indore, Patna and Lucknow, and within the first four weeks of launch the app’s daily active users spread across 26 states. The app has recorded more than 30,000 downloads to date. Spare8 says it aims to simplify how consumers invest, spend, see and save money and plans to target a broader demographic with less access to capital and less time. The company intends to use the newly raised capital to strengthen growth and marketing initiatives and to build a team to scale up.

Total raised

$1M

Funding rounds

1

Latest round

Seed

Latest activity

Aug 2022