Xare Xare is the world's first credit and debit card sharing platform.
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Xare pioneers shared financial services globally, catering to a fundamental but often overlooked reality: while financial products are traditionally designed for income earners, two-thirds of the world's population does not work. These dependents, who collectively spend nearly US$25 trillion annually, have to turn to income earners to gain financial access. By enabling income earners to share their financial access such as credit/debit cards, Xare empowers income earners to become effective financial providers for their dependents. Sharers can set specific limits and controls on where the money is spent, ensuring better financial management. While originally designed to disrupt remittances, Xare now caters to three million users across 175+ countries, making it one of the most global fintech companies in the world. By turning income earners into personal banks for their dependents, Xare is effectively building a global network of a billion banks, redefining financial sharing for the masses, and making money social.
- FOUNDED IN: 2021
- SECTOR: Fintech
"We at Xare drive the UAE's financial innovation agenda in four key ways. As a UAE-born fintech, we're scaling a novel tech stack globally, showcasing our nation's leadership in financial technology. We enhance the UAE's financial robustness by retaining funds within local banks while enabling global transactions. Our platform aligns with the UAE's vision for a decentralized, equitable financial system, cementing its status as a financial innovator. Xare also furthers the UAE's humanitarian goals by improving the lives of marginalized groups worldwide, and embodying the nation's commitment to global social impact."
