Tennis stars Venus and Serena Williams snap up stake in London investment app Shares
Tennis stars Venus and Serena Williams have snapped up a stake in London investment app Shares.
The sisters will also be its first brand ambassadors, with Serena saying she was ‘blown away’ by its vision.
Shares is a mobile platform similar to Trading 212 and Etoro which lets users buy and sell shares in companies.
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But the app also has a social media element which allows groups of friends follow each others’ investments and talk about their trades.
The business, backed by billionaire US entrepreneur Peter Thiel, hopes to make investing more accessible to under-represented groups such as women.
Four in ten of its 150,000 users are under 25 while more a third are women.
That compares with an average of 7 per cent of retail investors who are women.
Serena, who won 23 Grand Slam tournaments, said: ‘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.’
Five-time Wimbledon winner Venus said the sisters opt to back those ‘where passion meets purpose’. Shares boss Benjamin Chemla said the sisters will drive growth.