Shares raises £ 30 million for investments in addition to a social hue

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London-based investment startup Shares, which combines stock market investments with social media, has raised $ 40 million (£ 30 million) in a series of financing round of the A series held by previous investors Valar Ventures.

Other A-Series investment participants include Singular, Global Founders Capital and Red Sea Ventures.

New funding comes when Shares introduces its new app that allows collaborative investment for small and large communities.

The equity platform is designed to provide investors with a single space for discussion, advice and investment. Participants will be able to track the investments of colleagues and friends, as well as access and share market data.

Shares argues that the barrier to entering the stock market is too high, and therefore the app does not require minimal free access to stocks and fractional stocks.

Benjamin Chamla, co-founder and CEO of Shares, said: “The app is inspired by our own experience as a retail investor, and we wanted to improve people’s travel by combining trade with a community element that would radically change people’s approach to finance.”

Harjas Singh, co-founder and chief product officer, Shares said: “The social element is an integral part of the experience, not an idea to resonate with the next generation of investors.

“In less than nine months, we have created an investment product with incredible back-office capabilities with sophisticated AML [anti-money laundering] and crime detection systems. ”

The service is currently only available to those in the UK. However, in the near future the company expects further expansion into Europe.

Shares previously had a a round of entry-level funding in 2021 months after the foundation, raising $ 10 million (£ 7.5 million), a particularly high investment for such an early European startup.



Shares raises £ 30 million for investments in addition to a social hue

Source link Shares raises £ 30 million for investments in addition to a social hue