Spare8
- Company typePrivate
- Founded2021
- HeadquartersMumbai, India
- Headcount1–10
- GTM typeB2B and B2C
- OfferingServices
Spare8 firmographics
Firmographics- Name
- Spare8
- Legal name
- Spare8 Platforms Private Limited
- Website
- https://spare8.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Ownership category
- akta.pro rank
Spare8 industry classification
Industry- Product category
- Digital Gold Investment Platform
- NAICS
- Funds, Trusts, and Other Financial Vehicles (525)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Yield, Vaults & Asset Management (vault strategies, robo-vaults, structured yield) (FSAPAEAG)
Keywords
Where Spare8 is headquartered
LocationHeadquarters
- HQ city
- Mumbai
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
Spare8 business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure
Revenue model
- Digital gold transactions: Revenue generated through buy/sell spreads on digital gold transactions. No explicit fees charged to users for buying and selling, suggesting margin is built into the spread between buy and sell prices.
- Spare8+ gold leasing program: Revenue share from gold leasing yields. Users can earn up to 16% p.a. on leased gold; Spare8 generates revenue from the spread between leasing yields generated and payouts to users.
- Physical gold redemption: Fees associated with redemption of digital gold into physical gold coins and bars, including making charges and delivery charges
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Digital Gold - Core product with no fees |
| Transaction based/ take rate | Pay-as-you-go | Spare8+ Gold Leasing - Earn yields on gold |
| Subscription | Monthly | Gold SIP - Systematic Investment Plan |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
Spare8 product offering
Product offeringCore offering
Spare8 is a mobile-first digital gold micro-investment platform that enables Indian retail investors to buy, sell, and hold 24K 99.9% pure digital gold starting from as low as ₹10, with automated savings, physical gold redemption, and a Spare8+ gold leasing program offering yields up to 16% p.a. The platform also serves Mutual Fund Distributors (MFDs) and Independent Financial Advisors (IFAs) through a dedicated B2B partner portal that distributes digital gold products and doubled commissions. All digital gold is backed by physical bullion in Augmont-operated vaults with trustee oversight by Valgo Securities.
Product overview
Spare8 is a digital gold micro-investment platform that operates as a consumer-facing mobile app. The core Spare8 platform enables users to buy and sell 24K digital gold from as low as ₹10, with automatic savings automation, no buy/sell fees, and physical gold redemption options. The Spare8+ add-on module layers gold leasing on top of the core product, letting users earn up to 16% p.a. by leasing their vaulted gold to commercial counterparties while retaining gold price exposure. The Spare8 Business Platform extends the ecosystem to B2B distributors (MFDs and IFAs), enabling them to offer digital gold and Spare8+ to their own client bases. The three products share the same Augmont-backed gold infrastructure but serve different segments (retail micro-investors, retail gold lessors, and B2B distribution partners).
Differentiator
Problem solved
Functional benefit
Brands
- Spare8+: Gold leasing program that allows users to lease their digital gold to earn up to 16% p.a. rewards while maximizing returns.
Quantifiable outcome
- Users can earn up to 16% p.a. through Spare8+ gold leasing
- +3 more outcomes
Companies that use Spare8
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles2 records
Spare8 technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature4 records
Spare8 partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- Augmont Goldtech Private LimitedcoreDigital gold infrastructure provider and refiner supplying 24K 999-purity digital gold. Augmont operates as the digital gold arm of RSBL (Rajasthan Bullion), one of India's established bullion groups. Provides underlying gold allocation, vault storage through Sequel Logistics, and bullion infrastructure.
- Sequel LogisticscoreProfessional vaulting and logistics company operating vault infrastructure for physical gold storage. Operates within SEBI-aligned ecosystem and services major financial institutions.
- Valgo SecuritiescoreIndependent trustee providing oversight for Spare8's gold leasing framework. Monitors vault operations, leasing compliance, and provides structural checks and operational transparency.
Scale indicators4 records
Recent moves5 records
Expansion highlights5 records
Spare8 competitors and assessment
Company assessmentDirect peers
- PhonePe: PhonePe offers digital gold purchases integrated with UPI payments. It competes directly for the same Indian retail micro-investor audience Spare8 targets and is also a Spare8 payment partner.
- MyGold: MyGold is an India-focused digital gold and gold loan platform that combines digital gold accumulation with lending. It directly competes with Spare8's micro-investment and Spare8+ gold leasing positioning.
- SafeGold (by Augmont/Mydigitalgold): SafeGold is a B2B2C digital gold infrastructure and consumer platform in India, providing white-label digital gold to banks and fintechs. It is the closest direct competitor to Spare8's product mechanics.
- Google Pay (Google Pay Gold): Google Pay offers digital gold buying within its India payments app, partnering with MMTC-PAMP. It is a direct competitor for low-ticket, mobile-first gold investors in India.
- Paytm (Paytm Gold): Paytm offers digital gold within its payments super-app, allowing users to buy, sell, and redeem 24K gold. It is the largest scaled direct competitor to Spare8's core product and is also listed as a Spare8 payment partner.
Broad incumbents
- Kuvera: Kuvera is an Indian mutual fund and wealth platform that offers gold funds and SGBs. It overlaps with Spare8's gold investment use case for a more financially literate retail audience.
- Groww: Groww is a leading Indian retail investment platform offering mutual funds, stocks, and gold ETFs/sovereign gold bonds. It is a broad incumbent that competes for the same digital wealth customer with gold as one category among many.
- Zerodha (Coin): Zerodha's Coin platform and Kite app offer gold ETFs and SGBs alongside equities and mutual funds. It is a broad incumbent competing for the Indian retail wealth customer, including gold allocation.
Others
- Augmont Goldtech: Augmont is Spare8's core digital gold infrastructure partner (vaulting, refining, allocation). While not a direct retail competitor, it also offers its own consumer-facing DigiGold product, making it a partial competitor and key ecosystem counterpart.
Emerging players
- Jupiter: Jupiter is an Indian consumer fintech super-app that has begun offering digital gold and other wealth products. It targets a similar mobile-first, young Indian investor and could overlap meaningfully with Spare8's segment.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Spare8 social profiles
Digital presenceSpare8 financial estimates
Financial estimateRevenue estimate
Valuation estimate
Spare8 leadership team
Management profileNumber of profiles
Profiles6 records
Spare8 funding detail
Funding detailFunding overview
Funding rounds2 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Spare8 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 Spare8
What does Spare8 do?
Spare8 is a mobile-first digital gold micro-investment platform that enables Indian retail investors to buy, sell, and hold 24K 99.9% pure digital gold starting from as low as ₹10, with automated savings, physical gold redemption, and a Spare8+ gold leasing program offering yields up to 16% p.a. The platform also serves Mutual Fund Distributors (MFDs) and Independent Financial Advisors (IFAs) through a dedicated B2B partner portal that distributes digital gold products and doubled commissions. All digital gold is backed by physical bullion in Augmont-operated vaults with trustee oversight by Valgo Securities.
Is Spare8 a public or private company?
Spare8 is a private company. It is classified as venture growth investor backed and is currently operating.
When was Spare8 founded?
Spare8 was founded in 2021. It employs 1 to 10 people.
Where is Spare8 based?
Spare8 is headquartered in Mumbai, India, in the Asia region.
How does Spare8 make money?
Three revenue lines are on record. Digital gold transactions are the primary driver. The others are spare8+ gold leasing program and physical gold redemption.
Who are Spare8's main competitors?
Direct peers on record are PhonePe, MyGold, SafeGold (by Augmont/Mydigitalgold), Google Pay (Google Pay Gold) and Paytm (Paytm Gold). Broad incumbents are Kuvera, Groww and Zerodha (Coin). Augmont Goldtech is listed as an others. Jupiter is listed as an emerging player.
Does Spare8 have an API?
No public API is recorded for Spare8.
What industry is Spare8 in?
Spare8's product category is Digital Gold Investment Platform. Its primary akta.pro industry code is FSAPAEAG, Yield, Vaults & Asset Management (vault strategies, robo-vaults, structured yield). Its NAICS code is 525 and its SIC code is 6200.