A social investing app with a waitlist of more than 60,000 has launched in the UK and revealed a Series A funding round of 拢30 million.
Shares, headquartered in Paris with offices in London and Krakow, Poland, already employs 140 people.
The Shares app is now available for all users to download via Apple Store and Google Play. It gives family, friends and experienced investors a single place to meet, discuss and invest.
Its mission is to break down the barriers for first time investors, democratise and demystify investment and give its users access to the thoughts and ideas of their trusted network.
The round was led by Valar Ventures, Peter Thiel鈥檚 fund, while other investors include Singular and Global Founders Capital.
鈥淭he use of social networks has fundamentally changed how we interact with friends and family, what we talk about and how we make decisions,鈥� said Harjas Singh, CPO and co-founder.
鈥淧eople are already using solutions like Whatsapp, Telegram and joining communities to talk about trading. We鈥檝e realised there is a need for an investment product that allows groups of friends to聽 invest, discuss and share their investment journey.
鈥淚n less than nine months we鈥檝e built an investing product with an incredible back-office capability with sophisticated anti-money laundering and financial crime detection systems.聽
鈥淲e are already in a position to compete with the biggest players in the market and are on our way to build a category leader.”
Benjamin Chemla, CEO and co-founder, added: 鈥淭he app is inspired by our own experiences as retail investors and we wanted to improve people’s journey by combining trading with a community element that would radically transform the way people approach finance.聽
鈥淲e鈥檙e on a mission to help people connect, share experiences and invest in long-term financial wellness and a better future for themselves, together. From the UK, to Europe and beyond, launching today is the first giant leap toward giving everyone what鈥檚 missing in the experience of investing today.鈥�