Spare

Spare (Spare Technologies) provides open banking infrastructure — account information and payment initiation APIs — that let businesses aggregate bank account data, verify accounts, categorize transactions, and initiate payments directly from customer bank accounts. Its clients include regional fintechs such as Tamara, Qoyod and Ejar. Spare holds a regulatory sandbox approval from the Saudi Central Bank (SAMA), an In-Principle Approval from the Central Bank of the UAE, and is licensed by the Central Bank of Bahrain as an Account Information/Payment Initiation Service Provider (AISP/PISP); it is also piloting services in Kuwait under the Central Bank of Kuwait's sandbox. The company was founded in 2019 by Dalal Alrayes and Saurabh Shah and is headquartered in Riyadh, Saudi Arabia (with roots and early traction reported in Kuwait). Spare has raised venture funding, including a $3 million round in December 2023 and a $5 million pre-Series A round in September 2025.