Looking to deliver on its credo, “investing made social”, Shares has revealed its $10 million seed round raise and opened the waitlist for a UK launch slated for this autumn. With no minimum buy-in and a community-first approach, Shares is seeking to court first-time investors and break down the barriers of traditional investment structures. The seed funding will be used to continue the pace at which the company is already scaling.
Headquartered in Paris and co-founded earlier this year by serial entrepreneur Benjamin Chemla (Stuart) and François Ruty, Shares has already achieved one of the biggest seed rounds on record, a clear indication that investors are eyeballing a game-changing product.
Armed with as little as £1.00, any potential investor can become an active investor in any one of the commission-free 1,500 stocks Shares has on offer. The service will also pool the best elements of investment forums, provide for the free flow of information between investors, the creation of group indexes between friends, and access to curated expert advice.
Since the beginning of this year, CEO Chemla has been on an aggressive recruiting spree, amassing a team of from the likes of Revolut, Stuart, Bumble, and FreeNow. The 34 seasoned scaleup professionals represent 10 nationalities and are active in offices in Paris, London, and Krakow.
Shares’ seed round investors include Singular (lead), Valar Ventures, Global Founders Capital, and Red Sea Ventures. André Mohamed, Co-Founder of Freetrade, Didier Vallet, ex-Deputy CEO of Société Générale, Chris Adelbach, Managing Partner of Outrun Ventures & UKBAA Angel Investor of the Year, and Ryan McKillen, Founding Team of Uber are currently business advisors.
Shares’ waitlist for the UK is now open, and the company plans further rollouts across continental Europe within the coming months.