anb capital is pleased to announce that anb seed Fund has led the $5.0m Pre-Series A funding round for Spare. Other prominent investors include Vision Ventures, SEEDRA Ventures, Boubyan Capital, 500 Global, and Middle East Venture Partners (MEVP).

Founded by Dalal Al Rayes and Saurabh Shah in 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’s infrastructure is already trusted by leading players like Tamara, MyFatoorah , and Futurework, helping them deliver faster, more secure, and user-centric financial services. 

Khalid S. Alghamdi, CEO of anb capital, commented: “We’re proud to have led Spare’s funding round, reinforcing our commitment at anb seed Fund to backing visionary founders who are shaping the future of finance. Spare is building the foundational infrastructure for open finance in MENA — a platform that delivers speed, precision, and security while addressing the region’s unique financial realities. As Saudi Arabia advances toward Vision 2030, with a strong emphasis on digital transformation, financial inclusion, and private sector growth, Spare emerges not just as a promising startup, but as a strategic enabler of this national shift. We’re excited to support their mission to create seamless financial connectivity and unlock a new era of innovation across the region.”