Spare
Spare is a Bahrain-headquartered open banking infrastructure provider offering account aggregation (AISP) and payment initiation (PISP) services via a unified API across Bahrain, Saudi Arabia, and the UAE, serving merchants, fintechs, and payment orchestration platforms.
- Company typePrivate
- Founded2019
- HeadquartersRiyadh, Saudi Arabia
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Spare does
Spare is a Bahrain-headquartered open banking infrastructure provider operating across the GCC (Bahrain, Saudi Arabia, UAE, with development activity in Kuwait) and, as of 2026, in France through a transit technology partnership. The company provides regulated Account Information Service Provider (AISP) and Payment Initiation Service Provider (PISP) capabilities via a single unified API platform (docs.tryspare.com), enabling clients to aggregate bank account data and initiate account-to-account (A2A) payments directly from end-user bank accounts. Spare serves three primary customer archetypes: merchants and e-commerce businesses seeking lower-cost Pay By Bank alternatives to card networks; fintechs and digital financial service providers building products on top of open banking data; and payment orchestration platforms (notably MoneyHash) that embed Spare's rails into broader checkout stacks.
The platform's technical surface spans five core product modules: (1) Aggregated Bank Data / AISP — unified multi-bank account views and transaction history; (2) Payment Initiation Services / PISP — single, recurring, bulk, future-dated, and cross-border payments through bank APIs; (3) Transactions & E-Statements — real-time transaction retrieval and analytics; (4) Pay By Bank — A2A checkout integration reducing card-network dependence; and (5) AlTareq — Spare's UAE-specific product operating under the CBUAE Open Finance framework (via Nebras Open Finance LLC), which in April 2026 executed the UAE's first international open finance cross-border pilot transaction. The company also operates a Bahrain-only freemium consumer app (iOS and Android) for personal financial aggregation, which is a secondary, non-revenue-generating surface.
Spare's business model is two-sided: (a) transaction-fee revenue on payment initiation flows (PISP and Pay By Bank), and (b) subscription / per-API-call revenue on AISP / account-aggregation services for enterprise and fintech clients. Enterprise pricing is not publicly disclosed and is quote-based, while the consumer app is offered free with potential future paid features. Distribution is API-first with self-serve developer onboarding, supplemented by direct enterprise sales and channel/OEM partnerships. The company is venture-backed, having raised a cumulative $8 million ($3M seed Dec 2023 led by Vision Ventures; $5M pre-Series A Sep 2025 led by ANB Capital's anb Seed Fund), operates through three regulated legal entities (Spare Technologies WLL in Bahrain, Spare Digital Technologies L.L.C S.O.C in the UAE, and Spare Arabian Financial Co. in Saudi Arabia), and employs 11–50 people as of the latest disclosure.
Spare firmographics
Firmographics- Name
- Spare
- Legal name
- Spare Technologies WLL
- Website
- https://tryspare.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Spare is a Bahrain-headquartered open banking infrastructure provider offering account aggregation (AISP) and payment initiation (PISP) services via a unified API across Bahrain, Saudi Arabia, and the UAE, serving merchants, fintechs, and payment orchestration platforms.
- Ownership category
- akta.pro rank
Spare industry classification
Industry- Product category
- Open Banking Infrastructure
- akta.pro primary industry
- Payment Initiation & Account-to-Account (A2A) Payments (PIS, RTP initiation) (FSAGACAI)
- akta.pro secondary industries
- A2A Payment Initiation Service Providers (PISPs) (FSAMAFAB), A2A Checkout & Merchant Acceptance Solutions (FSAMAFAF)
Keywords
Where Spare is headquartered
LocationHeadquarters
- HQ city
- Riyadh
- HQ country
- Saudi Arabia
- HQ region
- Middle East
Offices3 records
Markets served
Spare business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Payment Initiation / Transaction Fees: Spare earns transaction fees on each payment initiated through its open banking platform. As a licensed PISP (Payment Initiation Service Provider), it charges merchants and businesses a take rate or transaction fee for enabling account-to-account payments. The company enables single payments, recurring payments, bulk payments, and cross-border transfers, generating revenue per transaction processed through its API.
- API Platform / Account Information Access: Spare provides APIs enabling account information aggregation (AISP services) for businesses seeking unified financial data views. Revenue may be derived from API usage fees, platform subscriptions, or per-account connection fees charged to enterprise clients, fintechs, and merchants integrating its open banking infrastructure.
- Open Banking Infrastructure for Merchants: Spare provides the regulated open banking rails and API connectivity that enable merchants (particularly through partners like MoneyHash) to offer Pay By Bank solutions. Revenue is generated through per-transaction fees and settlement services, reducing reliance on card networks for merchants in the UAE and wider GCC.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | Free consumer app with potential future paid features |
| Other | Pay-as-you-go | Enterprise API platform (pricing not publicly disclosed) |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels6 records
Spare product offering
Product offeringCore offering
Spare provides a regulated open banking API infrastructure across the GCC that enables businesses to aggregate customer bank account data (AISP) and initiate account-to-account payments (PISP) directly through bank APIs. Its unified platform supports single, recurring, bulk, future-dated, and cross-border payments under regulatory frameworks in Bahrain, Saudi Arabia, and the UAE, including the first AlTareq-powered international open finance payments solution. The company also operates a freemium consumer mobile app in Bahrain for personal financial data consolidation and a digital operations platform for paratransit services deployed through partners.
Product overview
Spare operates as an open banking infrastructure provider across the GCC, offering a unified platform with multiple interconnected products. The core Open Banking Infrastructure Platform connects to financial institutions through secure APIs, which powers the Aggregated Bank Data and Payment Initiation Services sub-products. The Transactions & E-Statements module enables transaction retrieval and analysis. In the UAE specifically, Spare operates through the AlTareq framework for open finance services. The Pay By Bank feature enables account-to-account payments, with capabilities expanded through the MoneyHash partnership for UAE merchants.
Differentiator
Problem solved
Functional benefit
Products and services
- Open Banking Infrastructure Platform Spare's core regulated open banking infrastructure that provides secure API connectivity to financial institutions across the GCC (Bahrain, Saudi Arabia, UAE), enabling account information aggregation (AISP) and payment initiation (PISP) under local regulatory frameworks including CBB, SAMA, and CBUAE/AlTareq. Designed for developers and businesses integrating open banking capabilities.
- Aggregated Bank Data (Account Information Services) Bank data aggregation tool that combines financial data from multiple banks into a single streamlined dashboard, providing consolidated account views, transaction history, and intelligent analytics for businesses and consumers. Licensed under the Central Bank of Bahrain AISP framework.
- Payment Initiation Services (PISP) Licensed PISP enabling secure account-to-account payments directly from bank accounts via open banking rails. Supports single payments, recurring payments, bulk payments, future-dated transfers, and international cross-border payments through bank APIs without sharing credentials.
- Transactions & E-Statements Electronic transaction history and statement retrieval service that allows users and businesses to access, monitor, and analyze their banking transactions in real time.
- AlTareq (UAE Open Finance Service) UAE-specific open finance service delivered through the AlTareq framework, enabling data sharing, quote generation, service initiation, and onboarding of Licensed Financial Institutions under CBUAE's Open Finance Regulatory Framework.
- Pay By Bank (Account-to-Account Payments) Open banking-powered account-to-account (A2A) payment method that lets customers pay merchants directly from their bank accounts at checkout without entering card details, reducing card network reliance, lowering transaction costs, and shortening settlement times.
- Al Tareq Cross-Border Payments First International Open Finance Payments solution in the UAE using the Al Tareq instant payments scheme for cross-border transactions. Enables real-time international fund movement through a unified API platform, addressing high transaction costs for regional businesses.
- Spare Mobility (Paratransit Operations Platform) Digital operations platform for door-to-door paratransit and on-demand mobility services, providing real-time fleet tracking, advanced scheduling and dispatch, dynamic optimization, and performance monitoring for operators serving persons with reduced mobility.
Quantifiable outcome
- Lower payment processing costs for merchants compared to traditional card-based payments
- +3 more outcomes
Companies that use Spare
Customer profileNamed customers2 records
Segments5 records
Ideal customer profiles4 records
Spare technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
Spare partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered major and core.
- CitéMobilmajorSpare partnered with CitéMobil following the award of Lot 2 – West Operations under the PAM Francilien 2025 contract by Île-de-France Mobilités (IDFM). Spare deploys its digital operations platform to modernize door-to-door transport for persons with reduced mobility (TPMR) across four departments in western Île-de-France (Yvelines, Essonne, Hauts-de-Seine, Val-d'Oise). The platform provides real-time fleet tracking, advanced planning, dynamic optimization, and performance monitoring. This represents Spare's expansion beyond fintech into transit technology, a distinct business vertical.
- MoneyHashcoreSpare and MoneyHash announced a strategic partnership in January 2026 to enable Pay By Bank solutions for merchants in the UAE. The collaboration combines Spare's regulated open banking infrastructure (AlTareq) with MoneyHash's payment orchestration platform, enabling merchants to accept account-to-account payments with lower transaction costs and faster settlement times. Maram Alikaj (COO at MoneyHash) and Shaima Ghafoor (Country Manager at Spare) represented both companies at the signing.
Scale indicators5 records
Expansion highlights6 records
Spare competitors and assessment
Company assessmentDirect peers
- Lean Technologies: UAE-based open banking API platform offering AISP and PISP services across the GCC, including Saudi Arabia and Bahrain. It is the most direct competitor to Spare in MENA open banking infrastructure, targeting the same fintech, merchant, and payment orchestration customer base.
- Tarabut: MENA's largest open banking platform, headquartered in Bahrain and operating across the UAE and Saudi Arabia with licensed AISP/PISP services. It competes head-to-head with Spare for the same GCC bank integrations, fintech developers, and enterprise open banking use cases.
Broad incumbents
- Plaid: Global leader in financial data connectivity and open banking infrastructure, offering account aggregation and payment initiation APIs across the US, UK/Europe and Canada. Plaid's product set directly overlaps Spare's AISP/PISP offering, and it represents the most credible international incumbent that could expand into MENA.
- TrueLayer: European open banking platform providing account information and payment initiation APIs to merchants, fintechs and banks. Spare's PISP/AISP model mirrors TrueLayer's UK/Europe play, making it a strong comparable for product roadmap and enterprise monetization.
- Token.io: UK-based open banking payments network enabling account-to-account payments and data connectivity for banks and merchants. Token.io competes in the same A2A payment initiation and open banking rails category that underpins Spare's Pay By Bank and AlTareq offerings.
- Yapily: European open banking infrastructure provider offering unified APIs for account information and payment initiation services. Yapily's enterprise platform model and bank-licensing approach are directly comparable to Spare's GCC AISP/PISP platform.
- Flinks: Canadian open banking and financial data aggregation platform serving banks, lenders and fintechs with account connectivity APIs. Flinks is comparable in product category (AISP-led infrastructure) and target customer profile (banks, fintechs, lenders) to Spare.
- Tink: Visa-owned European open banking platform offering account aggregation and payment initiation services across 20+ markets. Tink represents the global incumbent benchmark for what a scaled open banking infrastructure business looks like — Visa's ownership signals strategic interest in consolidating this category globally.
Emerging players
- Mono: Nigeria-based digital banking and open finance API platform connecting African consumers' bank accounts to fintechs and businesses. Mono is comparable as an emerging-market open banking infrastructure play targeting similar use cases (AISP/PISP, data aggregation, payments) in a different geography.
- Stitch: South African fintech providing financial data connectivity and payment infrastructure via a single API across African banks. Stitch is comparable to Spare as a regional open banking/A2A payments infrastructure player focused on a single emerging market.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Spare social profiles
Digital presenceSpare compliance and trust
Trust signalCompliance5 records
Spare financial estimates
Financial estimateRevenue estimate
Valuation estimate
Spare leadership team
Management profileNumber of profiles
Profiles4 records
Spare funding detail
Funding detailFunding overview
Funding rounds2 records
Investors8 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Spare M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Spare
What does Spare do?
Spare provides a regulated open banking API infrastructure across the GCC that enables businesses to aggregate customer bank account data (AISP) and initiate account-to-account payments (PISP) directly through bank APIs. Its unified platform supports single, recurring, bulk, future-dated, and cross-border payments under regulatory frameworks in Bahrain, Saudi Arabia, and the UAE, including the first AlTareq-powered international open finance payments solution. The company also operates a freemium consumer mobile app in Bahrain for personal financial data consolidation and a digital operations platform for paratransit services deployed through partners.
Is Spare a public or private company?
Spare is a private company. It is classified as venture growth investor backed and is currently operating.
When was Spare founded?
Spare was founded in 2019. It employs 11 to 50 people.
Where is Spare based?
Spare is headquartered in Riyadh, Saudi Arabia, in the Middle East region.
How does Spare make money?
Three revenue lines are on record. Payment Initiation / Transaction Fees are the primary driver. The others are API Platform / Account Information Access and open Banking Infrastructure for Merchants.
Who are Spare's main competitors?
Direct peers on record are Lean Technologies and Tarabut. Broad incumbents are Plaid, TrueLayer, Token.io, Yapily, Flinks and Tink. Emerging players are Mono and Stitch.
Does Spare have an API?
Yes. Spare provides APIs to facilitate connectivity with financial institutions and retrieval of bank data using secure, seamless connections. The APIs enable Account Information Services (AISP) and Payment Initiation Services (PISP), allowing users to connect to bank accounts, synchronize payment account information, and initiate payments. The platform is designed for developers and businesses to integrate open banking capabilities, supporting bank data sharing and payment initiation through a unified API platform compliant with local regulatory frameworks (SAMA in KSA, CBUAE AlTareq in UAE, CBB in Bahrain). Developer documentation is at docs.tryspare.com/docs/welcome.
What industry is Spare in?
Spare's product category is Open Banking Infrastructure. Its primary akta.pro industry code is FSAGACAI, Payment Initiation & Account-to-Account (A2A) Payments (PIS, RTP initiation), with a secondary code of FSAMAFAB, A2A Payment Initiation Service Providers (PISPs).