Angel Investments
Digital gold player Spare8 raises funding
Spare8 , a Mumbai-based B2B2C fintech startup, has raised funding led by Param Agrawal and Rajiv Shastri, the former CEO of NJ Asset Management.Spare8 plans to use the raised capital to scale its distributor network across India, strengthen the technological infrastructure to enhance user experience and broaden marketing efforts to increase awareness of digital gold investments.Founded by Ronit Harisingani and Shardul Saiya, Spare8 offers a platform that allows users to invest in digital gold by automatically accumulating small amounts of money. Previously, it raised a pre-seed round of USD 800,000 in August 2022, backed by investors including 2am VC, Varanium Capital, Magic Fund, Incisive Ventures and Broom Ventures.
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