Shares, a UK-based social and community-based investing app, announced on Monday that it has raised $40M in a Series B round of funding led by Valar Ventures.
The round brings the total investment in the company to $90M in 14 months since its launch.
Shares says it will use the funds to accelerate product development and its expansion throughout the European Union and other international markets.
Subject to relevant regulatory approvals, Shares expects to go live in the rest of Europe by the end of the year.
The London company has hired regional general managers and teams in Barcelona, Berlin, Stockholm, Krakow, and Amsterdam to support its growth within these markets.
The company will also be entering the Web3.0 space.
The company is currently scoping its crypto proposition that will enable users to transact in the digital assets space via the Shares application.
In just three months since its launch in the UK, over 150,000 people have joined Shares, 66% of those being Gen Z (below 25) and 26 percent millennials (26-41).
The UK 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.
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