London-based Shares, a social investment platform that allows anyone to invest without minimums, announced on Thursday that it has raised fresh capital from international tennis champions, Serena and Venus Williams.
The sisters have also been appointed as the first ambassadors of Shares. In a statement, the sisters mentioned supporting Shares’ mission of socialising the investment space and encouraging more women in particular to start investing.
Venus Williams says, “Shares is a creative and playful solution that solves a very real problem, which is why we wanted to get involved with Benjamin and the team. While we both have a broad range of interests when it comes to companies we support, there is a common thread throughout which falls on the intersection where passion meets purpose.”
This development follows the company’s recently closed $40M Series B round led by Peter Thiel Fund and Valar Ventures.
Encouraging everyone to start investing
Founded in 2021 by Benjamin Chemla, François Ruty and Harjas Singh, Shares has developed an investment app to make investing accessible to everyone. It is a one-stop platform for any investor to make trades, better manage their portfolio, and discuss opportunities with friends and family.
According to Shares’ recent research, 42 per cent of women said they had more money to invest since the Covid-19 issue started, and half of women said they grew more interested in investing during the epidemic. Over a third of Shares platform users are now women, which is higher than the industry norm.
Since its launch in the UK, over 150,000 people have joined Shares, 66 per cent of those being Gen Z (below 25) and 26 per cent millennials (26-41). The app currently offers social trading, activity feeds and push notifications, group watchlists and activity signals, chats and social push notifications, analyst ratings, and price alerts.
Serena Williams says, “The first time I heard about Shares I was blown away by the vision. It is rare to find companies that are equally as passionate about opening up opportunities and breaking barriers to entry that have prevented traditional spaces like investment from being totally inclusive. GenZ have a curious way of looking at the world and through the amplification of social media, have been much more open about educating themselves and sharing that information. I believe everyone, and especially women, should have the tools and access to information to take control of their finances; Shares is a platform that encourages the conversations we should all be part of.”
Shares has become the second most downloaded app in the ‘Finance’ category on the App Store and the sixth most downloaded app in the UK since its launch in May 2022.
Capital utilisation
Shares says it will use the funds to launch its services in multiple continents by the end of the year.
Co-founder Benjamin Chemla says, “I’m super pumped to welcome Venus and Serena into our Shares family. Our primary goal is to bring people together to make finance accessible while always offering the best product to our users. Venus and Serena have such a unique and inspiring story, as well as amazing values, so we had no hesitation to bring them in as shareholders and as brand ambassadors.”
“We’re confident that Venus and Serena will add dynamic energy to Shares that will drive and inspire us to imagine and build the best offering within the industry,” adds Chemla.
People in the UK can download the Shares app here: Apple App Store, Google Play Store. Those interested but not in the UK may sign up for the waitlist to get first access to the app when it goes live in Q4.
