Social investing start-up Shares bags $40m in Series B funding round
Social investing app Shares has secured $40 million in a Series B funding round led by Peter Thiel’s Valar Ventures.
Also participating in the round were Singular, Global Founders Capital, Red Sea Ventures and other angel investors.
The latest funding follows hot on the heels of the company’s $40 million Series A round, also led by Valar Ventures, in March this year. The start-up has now raised a total of $90 million in capital.
Shares says the new funds will be used for product development and to fuel its global expansion, with plans to launch in 40 new countries across three continents.
Founded in 2021, Shares allows friends to invest together through its mobile app, starting from as little as £1.
“The next generation of investors are different, both in terms of their investment appetite and the assets they deem valuable,” says Harjas Singh, co-founder and chief product officer at Shares.