Spare8 Allows Users To Purchase Gold In Small Increments

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Spare8 is a Mumbai-based startup that allows users to purchase gold in small increments, as low as Re 1, and automate investments to create a daily savings habit. The platform charges a 2% commission on every rupee invested, but this commission is paid by the Digital Gold provider Augmont, which means that consumers get market value gold for their investment. Spare8 raised $800k in its pre-seed round in 2022 and has a current valuation of $3.3 million. The platform has a current run rate of $5200 and a 30% month-on-month growth. It has a total of around 300k downloads out of which it recorded 145k downloads in the last 90 days. The platform sees an average of 3 transactions every 60 seconds and has a gross merchandise value of $100k, registering approximately 1100 users on a daily basis. Spare8 plans to incorporate the various products and features that fall under digital gold like leasing, credit, and gamification and build a tech stack on top of digital gold.

With a current valuation of $3.3 million, the platform has a current run rate of $5200 and a 30% month-on-month growth. It has a total of around 300k downloads out of which it recorded 145k downloads in the last 90 days. The platform sees an average of 3 transactions every 60 seconds. The platform has a gross merchandise value of $100k and registers approximately 1100 users on a daily basis. Spare8 has a current valuation of $3.3 million and a current run rate of $5200. It has recorded around 300k downloads, out of which 145k were recorded in the last 90 days. The platform registers approximately 1100 users on a daily basis and sees an average of 3 transactions every 60 seconds. The platform has a gross merchandise value of $100k. Additionally, it has a 30% month-on-month growth.