Saudi Arabia Spare funding raised $5 million in a pre-Series A round to accelerate growth across the GCC. The round was led by anb Seed Fund, with additional investments from 500 MENA, Vision Ventures, SEEDRA Ventures, MEVP, and Boubyan Ventures. With this funding, Saudi Arabia Spare funding will scale its open banking platform, expand API integrations, and strengthen its role in the region’s fintech sector.
With this investment, Saudi Arabia’s Spare plans to scale its open banking platform. In addition, the company will expand API integrations to enhance connectivity with regional financial institutions. Moreover, Spare will accelerate adoption of secure and localized fintech solutions throughout the GCC.
Founded by Dalal AlRayes and Saurabh Shah, Spare provides a unified API platform for financial data access and account-to-account payments. Consequently, it helps businesses streamline operations and simplify transactions efficiently. By partnering with more than 35 financial institutions, Spare strengthens its position as a backbone of open finance in the region.
Omar Ardati from anb Seed Fund commented that Saudi Arabia’s Spare sets a new standard for MENA financial infrastructure. Furthermore, he praised the company’s commitment to speed, security, and simplicity. Ardati also highlighted its deep understanding of local market dynamics, which makes the company stand out in the fintech landscape.
Dalal AlRayes, Spare’s CEO, stated that this investment allows the startup to move faster. She explained that the funds will help the company deepen integrations with regional banks, improve product innovation, and expand secure fintech infrastructure. Therefore, Saudi Arabia’s Spare is preparing to support the next generation of businesses in MENA.
Additionally, the startup is licensed by the Central Bank of Bahrain and regulated by several GCC central banks. This ensures that its solutions meet high compliance standards while building trust with partners and clients. As a result, businesses feel confident using Spare’s financial technology.
Analysts also point out that the MENA open finance market is expected to reach $10.16 billion by 2030. Therefore, Saudi Arabia’s Spare operates in a growing market, positioning itself for long-term success. By continuously innovating and expanding, Spare helps companies adopt secure and efficient financial solutions across the region.
Moreover, this funding strengthens Spare’s ability to scale its operations quickly. In addition, it enables the company to increase API accessibility and accelerate the overall adoption of modern fintech tools. Therefore, the startup continues to play a leading role in transforming the regional financial sector.
In conclusion, Saudi Arabia’s Spare raises $5 million to scale its platform, expand API integrations, and accelerate growth across the GCC. With this support, the company continues building the digital financial infrastructure needed for modern businesses.
