Shares announced a new $40 million round backed by Valar Ventures.

Shares, a Paris, France-based startup developing a social investment platform, announced raising an extra $40 million in a new equity funding round.

The money was raised from investors led by Valar Ventures.

Shares, founded in 2021 by CEO Benjamin Chemla and François Ruty, built a mobile app providing access to a social investment platform that gives everyone access to the stock market and improves the investment experience by letting users engage with an active community. The company says that the app is in the top of the most downloaded UK Finance App on the Apple App Store, with roughly 150,000 users.

Shares previously series A closed also at $40 million in March 2022 and prior to that secured a $10 million round in the summer of 2021. Other investors in the company include Singular, Global Founders Capital and Red Sea Ventures.