$40 million Series B fundraising round headed by Valar Ventures, the London-based social and community-based investing app Shares is eyeing European expansion and a move into cryptocurrency.

Two months after the app’s UK launch, the round, which brought Shares’ total funding to $90 million in just over a year, was announced.

The startup’s software, which combines all the elements of a social media app with a straightforward investment product, has 150,000 users. Users can share remarks and GIFs with their close friends and family when purchasing or selling to express their opinions about the investment they are making.

Members can monitor and respond in real-time to all of their friends’ investments using an activity stream. Additionally, individuals can use group chats and private direct messages (DMs) to have discussions as well as build group watchlists with their friends to track their upcoming prospects. Users may also view their friends’ investments in stocks as well as their overall gains and losses by viewing their member profiles.

According to Shares, these capabilities enable users to discuss investing more easily without having to rely on third-party sites like Reddit and WhatsApp.

By the end of the year, Shares anticipates launching throughout the rest of Europe with the new finance in place. General managers have already been hired in Amsterdam, Barcelona, Berlin, Stockholm, Krakow, and Berlin.

The company is also planning a Web3.0 push, showcasing its crypto offering that will allow customers to effortlessly transact in the space of digital assets through the Shares application.

“This latest investment from Valar Ventures will only serve to reinforce our growing momentum, supporting the next stage of our expansion into Europe that in turn will act as a springboard into international audiences.”

                                                                                          Benjamin Chemla, CEO, Shares.