Madrid, 25 (European press)
Social investment platform Shares has raised $40 million (€39.26 million) in a Series B funding round led by Valar Ventures, made possible by its successful UK launch last May. The company in a statement.
This group brings the total amount raised to $90 million (€88.36 million), after the platform closed a $40 million investment round a few months ago.
With its launch in the UK, the company achieved 150,000 users. Of these, 66% are Generation Z and 26% are Millennials.
The stock will use the recent investment to further innovate its products and create community-focused features that make investments more accessible. It will also support the company’s expansion and growth in the European Union (EU) and entry into other international markets.
“It is great to see the strong confidence our investors have not only in the equity platform, but also in the team behind it (…). This latest investment from Valar Ventures will solidify our growing momentum, and support the next phase of our expansion in Europe Which in turn will serve as a springboard for international audiences,” said Benjamin Shamla, founder and CEO of the company.
The platform expects to start operating in the rest of Europe at the end of the year, a process still awaiting relevant regulatory approvals which has begun to appoint general managers and regional teams in Barcelona, Berlin, Stockholm, Krakow and Amsterdam.
Separately, Shares will enter the Web3 space and evaluate its proposal for cryptocurrencies, which will allow users to transact digital assets directly in the application.