If you’ve ever been without cash, then you’ll probably want to read about this next product. Spare is the mobile ATM application pitched on Shark Tank<\/a><\/em> during its tenth season. Founder D\u2019ontra Hughes made a deal with one of the famed panelists, and business has been steady ever since. Find out the status of the company now below. <\/p>\n\n\n\n

5 Facts About Spare<\/h2>\n\n\n\n

1) D\u2019ontra Hughes is the creator of Spare. He has an extensive background in fintech (financial technology), making him an expert to create this product. He wanted to develop a way for the “unbanked and underbanked” to access money, according to Shark Tank Tales<\/a>.<\/p>\n\n\n\n

2) His idea turned into the mobile ATM app which allows<\/a> users to withdraw cash without having to use a credit\/debit card. They log onto their account on the app, upload funds from their bank account, and send a request for cash from the business. Once they are at the business, they simply scan a QR code and receive their cash request. <\/p>\n\n\n\n

3) While on Shark Tank<\/em>, D\u2019ontra asked for $500,000 for 3.5%. This made the valuation over $14 million. He did receive a deal for $500,000 for 12% with Mark Cuban. Additionally, there was also a 2% consultative share. This allowed Mark to utilize his skills to continue fostering the relationship between he, D’ontra, and their perspective customers.<\/p>\n\n\n\n

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A post shared by SPARE. (@gotspare)<\/a><\/p><\/div><\/blockquote>