A $40 million Series A investment round headed by Valar Ventures has been completed by Shares for its social investment app
The business has been developing a smartphone app that includes a social component and makes it simple to sell and buy shares. You can communicate with other users right from the app and follow your friends’ movements.
The business is introducing its app today on both Google Play and the App Store. For the time being, it is only accessible to residents of the U.K., but the company anticipates expanding to additional European nations in the future.
Previously, Valar Ventures took part in the $10 million seed funding round for the business. This time, Valar Ventures is in charge of Series A, with additional funding coming from Red Sea Ventures, Singular, and Global Founders Capital.
Fundings Related To Shares And Its Use
Shares have only raised $50 million in total in the last nine months, but it wants to move swiftly.
According to Shares, there continue to be too many obstacles in the way of people who wish to start investing in public firms. Shares aim to use social aspects, in particular, to make stock trading less intimidating and more approachable from a financial standpoint.
Working Of The Shares
The new trading service from the company checks all the necessary boxes. New users merely need to install a phone feature and adhere to the steps to create an account because it is a portable experience.
Users have the option to purchase fractional shares; they can start with £1.00. The trading terms state that Alpaca Securities LLC, which serves as the execution broker, and Shares are now partners.
Future Planning Of The Shares
Shares, however, aims to do more than just provide a substitute for Bitpanda, Trade Republic, and Freetrade. Share users can chat with loved ones and friends about investments in addition to trading stocks.
Users can start discussion groups where they can exchange financial ideas with other users. Additionally, there is a type of investment feed that resembles Venmo’s social feed. You can view the share purchases and sales of your pals from that tab. A post can also be liked and comments left.
A stock trading activity stream would be more beneficial than Venmo’s social feed, which isn’t really useful. It will be intriguing to see whether including those functions directly in the trading software would be sufficient to entice folks away from WhatsApp and Telegram asset managers.
About The Company
Friends can pool their money and develop investment plans with the financial app Shares. Observe your friends’ moves, discuss strategies, and increase your investments together.to create a society in which we are more than just shareholders.
Shares are doing away with investing alone or believing that the stock market isn’t for you. In one app, Shares combines investing and socializing with friends. Because, in the company’s opinion, investing is not exclusively for the wealthy.
The Company’s CEO Ben Chemla
Ben has more than 10 years of experience creating strong teams and businesses from the bottom up and quickly scaling them across Europe and the US. He has experience in company law and is an angel investor.
Ben started the on-demand delivery platform, Stuart, just as the gig economy was taking off, so he is experienced in dealing with challenging regulatory frameworks. Prior to launch, the firm raised €22M, and La Poste bought it. With over 600 people, it presently runs in over 100 cities.
Ben is again developing a brand-new community-based service at Shares that dramatically alters how people interact and live, and he’s assembling a daring team that knows how to keep moving forward to realize a fresh idea.