The company received the news late last week, and were waiting to receive the official letter from regulators before making today’s announcement.

Speaking to Finextra on the news, CEO and co-founder, Benjamin Chemla states: “It’s been crazy. We’ve had 18 months of going back and forth with different regulators but at the end of the day, the authorisations carry a lot of weight. We’re super happy and pumped to go live in Europe. I think we’re the very first fintech in France to receive these two approvals from the French regulator.”

Shares’ stock trading licence includes asset custody, meaning that the firm will be managing users assets on their books. The app’s crypto registration process was approved in April this year, and Chemla adds that Shares is currently working on its full crypto licence process which it hopes to obtain as soon as possible.

Chemla is optimistic about Shares’ roadmap, noting that their early crypto registration will allow them to fast-track their crypto licence application, positioning them well for broader European passporting under MiCA (Markets in Crypto-Assets) when it comes into force in 2026.

While the waiting period for receiving the licence was a frustrating chapter for Shares (they’d hoped for a late 2022 launch), Chemla notes that the extra time allowed them to refine their product suite, adding more functionalities and assets. “We’ll be the very first platform that will offer US stocks, crypto, ETFs, fractional shares, all in the same place.”

Another feature Chemla says has seen considerable uptake in the UK is the app’s ‘Premium Investor’ tool, where users can (for a £2.99 monthly fee) subscribe to the profiles and communities of experienced investors to learn from and monitor their investment activity. Experienced investors receive over 50% of the subscription fee for each user which follows their activity.

The service will be available to members by invitation only, with offers only extended once or twice per year. Chemla explains that they’ve chosen this approach as “we believe our product is premium. We are like Louis Vuitton, so we want to take the time to really build the right community with the right people. As such, we want to invite people slowly to ensure that the experience is similar to what you can experience within a Louis Vuitton store. This is a good way to keep it very attractive and sought-after.”

Shares saw 150,000 members join in the 12 months since its UK launch in May 2022, and today’s announcement underscores Chemla’s ambitions to focus on extending this UK success in France.

“We really want to be number one in France’s neo-brokerage scene within 18 to 24 months. We believe that we have a shot at that because our UK/French DNA means we can take the learnings we’ve made so far to France, while reinforcing our position in the UK by adding all these new assets.”

Shares has received $90 million in funding to date, spread across three rounds featuring renowned investors Valar Ventures, Singular, Global Founders Capital and Red Sea Ventures. A mix of business acumen and good timing saw the fintech execute its $40 million series C round in July 2022, before the strings on investors purses tightened.

By November 2022, the app had brought the Williams sisters onboard as shareholders and brand ambassadors, as well as launching beta testing of its crypto services across 11 European countries. Shares’ marketing campaign with the Williams sisters is set to go live in the UK and France later this year.

The company is no longer under a hiring freeze, and is currently undertaking targeted hiring for specific roles across Europe.