Shares raises $10 million seed round for its social investing app
Shares.io the social investment platform that gives retail investors access to the stock market and improves the investment experience by letting them engage with an active community, has today raised $10 million in seed round led by Singular. Valar Ventures, Global Founders Capital and Red Sea Ventures has also participated. The firm will be using the funds to launch its services to UK this autumn as well as further expansion to more European countries.
The newly founded startup (founded in early 2021 by Benjamin Chemla and François Ruty ), has already achieved one of the biggest seed rounds on record. Shares is a consumer mobile app and social-first platform for retail investors, designed from the ground up with user experience and community in mind, giving no-minimum, no-fees access to 1,500 stocks.
CEO and Co-Founder of Shares Benjamin Chemla, explained the way he sees his company: “We founded Shares, ‘investing made social’ for investors who prioritise user experience and community first, and also expect a serious platform to build their portfolio. Building Shares wouldn’t have been possible without the seasoned team of scaleup experts we’ve assembled across the business to achieve this product, in record time, without sacrificing quality. There is still untapped market opportunity in this high-growth fintech space and Shares is uniquely positioned as Europe’s first social and investing app to fast become a leader in the industry.”
Since its launch Share has been recruiting for its now team of 34 professionals assembled from the likes of Revolut, Stuart, Bumble and FreeNow, active in offices in Paris, London and Krakow.
James Fitzgerald, Founding Partner at Valar Ventures said:“Valar invested in the team at Shares with confidence in their ability to overcome the technical challenges and execute the project in a matter of months to get to market. Congratulations to Shares for executing the launch of Europe’s first social-focused investing app – a feat of engineering, finance and regulatory know-how.”
Sournce: EU-Startups “Paris-based Shares.io raises €8.5 million to launch first social and investing app”