{"id":50986,"date":"2025-09-17T10:12:59","date_gmt":"2025-09-17T07:12:59","guid":{"rendered":"https:\/\/entarabi.com\/?p=50986"},"modified":"2025-09-17T10:21:07","modified_gmt":"2025-09-17T07:21:07","slug":"spare-secures-usd-5-million-in-pre-series-a-funding-to-build-the-next-generation-of-open-banking-infrastructure","status":"publish","type":"post","link":"https:\/\/entarabi.com\/en\/2025\/09\/spare-secures-usd-5-million-in-pre-series-a-funding-to-build-the-next-generation-of-open-banking-infrastructure\/","title":{"rendered":"Spare Secures USD 5 million in Pre-Series A Funding to Build the Next Generation of Open Banking Infrastructure"},"content":{"rendered":"<ul>\n<li dir=\"ltr\" style=\"text-align: left;\" data-start=\"3\" data-end=\"258\"><strong data-start=\"3\" data-end=\"35\" data-is-only-node=\"\">Successful $5M Funding Round<\/strong>: Spire closed its Pre-Series A round led by ANB Capital with participation from prominent investors such as Vision Ventures, 500 Global, and MEVP, strengthening its position as a key open banking infrastructure provider.<\/li>\n<li dir=\"ltr\" style=\"text-align: left;\" data-start=\"3\" data-end=\"258\"><strong data-start=\"263\" data-end=\"310\" data-is-only-node=\"\">Unified and Secure Financial Infrastructure<\/strong>: Licensed by the Central Bank of Bahrain, the company provides APIs for account aggregation, identity verification, risk assessment, and payments, serving major clients like Tamara, Tap Payments, and Zid.<\/li>\n<li dir=\"ltr\" data-start=\"519\" data-end=\"801\" data-is-last-node=\"\">\n<p style=\"text-align: left;\" data-start=\"522\" data-end=\"801\" data-is-last-node=\"\"><strong data-start=\"522\" data-end=\"563\" data-is-only-node=\"\">Regional Expansion and Strategic Role<\/strong>: The funding will support Spire\u2019s integration with over 35 financial institutions and accelerate product development, positioning it as a cornerstone of open banking in the GCC, with the market expected to reach $10.16 billion by 2030.<\/p>\n<\/li>\n<\/ul>\n<p dir=\"ltr\" style=\"text-align: left;\"><a href=\"https:\/\/tryspare.com\/\" rel=\"nofollow noopener\" target=\"_blank\"><span style=\"font-weight: 400;\">Spare,<\/span><\/a><span style=\"font-weight: 400;\"> a fast-growing open banking infrastructure provider based in Riyadh, has raised USD 5 million in a pre-Series A funding round. The round was led by anb Seed Fund, the venture capital fund of ANB Capital \u2014a subsidiary of Arab National Bank\u2019s (ANB) investment arm and one of Saudi Arabia\u2019s leading financial institutions. Other investors included Vision Ventures, SEEDRA Ventures, 500 Global, Boubyan Ventures, Middle East Venture Partners (MEVP), and a group of prominent investors.<\/span><\/p>\n<p dir=\"ltr\" style=\"text-align: left;\"><span style=\"font-weight: 400;\">Founded by <\/span><b>Dalal AlRayes <\/b><span style=\"font-weight: 400;\">and <\/span><b>Saurabh Shah i<\/b><span style=\"font-weight: 400;\">n 2019, Spare is pioneering financial connectivity across the MENA region. Licensed by the Central Bank of Bahrain and regulated by several GCC central banks, Spare provides a secure and unified API platform for financial data access and account-to-account payments, enabling capabilities such as account aggregation, identity verification, risk assessment, and single recurring payments. Spare\u2019s infrastructure is already trusted by leading players like Tap Payments, Tamara, and Zid, helping them deliver faster, more secure, and user-centric financial services.<\/span><\/p>\n<p dir=\"ltr\" style=\"text-align: left;\"><span style=\"font-weight: 400;\">The new capital will be used to scale Spare\u2019s Open Banking platform and API integrations, accelerate product development, and drive expansion across the GCC. With a growing network of over 35 financial institutions, Spare is emerging as the infrastructure backbone of open finance in the region &#8211; delivering market-leading products with speed, focus, and capital efficiency.<\/span><\/p>\n<p dir=\"ltr\" style=\"text-align: left;\"><b>Dalal AlRayes, Spare co-founder and CEO, stated,<\/b><span style=\"font-weight: 400;\">\u00a0&#8220;We\u2019re building the financial rails for the next generation of businesses in MENA. This investment allows us to move faster, doubling down on product innovation, deepening our integrations with regional banks, and accelerating adoption of secure, localized fintech infrastructure solutions across the region.<\/span><\/p>\n<p dir=\"ltr\" style=\"text-align: left;\"><b>Omar Ardati of anb Seed Fund<\/b><span style=\"font-weight: 400;\"> commented, \u201cSpare is setting a new standard for financial infrastructure in MENA. Their commitment to speed, simplicity, and security\u2014combined with a deep understanding of local market dynamics\u2014makes them a standout company in the region\u2019s fintech landscape.\u201d<\/span><\/p>\n<p dir=\"ltr\" style=\"text-align: left;\"><b>Kais Alessa of Vision Ventures<\/b><span style=\"font-weight: 400;\"> added, &#8220;Spare&#8217;s founders are building what the region truly needs\u2014secure, seamless financial connectivity that empowers businesses and drives meaningful progress.&#8221; We\u2019re proud to support their vision to unlock the full potential of open banking in MENA. Spare\u2019s success is a testament to the power of focus, speed, and deep regional insight.\u201d<\/span><\/p>\n<p dir=\"ltr\" style=\"text-align: left;\"><span style=\"font-weight: 400;\">As MENA\u2019s open finance momentum builds, Spare is uniquely positioned to lead. In Saudi Arabia, the Saudi Central Bank (SAMA) has launched the Open Banking Lab and rolled out a phased regulatory framework to unlock secure, interoperable connectivity across the financial system. Similarly, the Central Bank of the UAE is advancing its own Open Finance framework, reinforcing the region\u2019s shift toward real-time, data-driven financial services. With the MENA Open Finance market projected to reach USD 10.16 billion by 2030, Spare is laying the infrastructure foundation for the region\u2019s next decade of financial innovation.<\/span><\/p>\n<p dir=\"ltr\" style=\"text-align: left;\"><span style=\"font-weight: 400;\">This funding marks a new chapter in Spare\u2019s journey &#8211; deepening its impact across MENA by advancing bank integrations, accelerating its product roadmap, and enabling a new standard of financial connectivity for the region\u2019s digital economy.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Successful $5M Funding Round: Spire closed its Pre-Series A round led by ANB Capital with participation from prominent investors such as Vision Ventures, 500 Global, and MEVP, strengthening its position as a key open banking infrastructure provider. Unified and Secure Financial Infrastructure: Licensed by the Central Bank of Bahrain, the company provides APIs for account [&hellip;]<\/p>\n","protected":false},"author":37,"featured_media":50984,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"post_subtitle":"","footnotes":""},"categories":[8850],"tags":[3533,4028,3558],"class_list":["post-50986","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-venture","tag-500global","tag-seedra-ventures","tag-vision-ventures"],"_links":{"self":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/50986","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/users\/37"}],"replies":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/comments?post=50986"}],"version-history":[{"count":0,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/50986\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media\/50984"}],"wp:attachment":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media?parent=50986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/categories?post=50986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/tags?post=50986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}