Shares today announces the completion of its acquisition of 100% of Treezor from Société Générale, following the fulfilment of all conditions required to complete the transaction.
The combination brings together Treezor’s expertise in embedded financial services and its established European footprint with Shares investment and savings technology.
The transaction marks a major milestone in Shares’ development and accelerates the creation of an integrated European financial infrastructure designed to support businesses and financial institutions in building and deploying services spanning accounts, payments, savings and investment.
Extending Banking-as-a-Service across the full financial journey
In Europe, Banking-as-a-Service has historically centred on accounts, cards and payments, enabling businesses to launch financial applications quickly using regulated technology infrastructure.
As financial institutions look to modernise their systems, accelerate transformation and reduce time to market for new products, there is growing demand for infrastructure that can combine everyday financial services with savings and investment solutions.
The combination of Treezor and Shares responds to this shift by bringing together, within a single group, Treezor’s capabilities across accounts, cards and payments and Shares’ expertise in savings and investment.
The group will therefore be able to develop an end-to-end offering spanning the full financial journey, supported by an integrated technology infrastructure and the regulated capabilities of both businesses. Clients will have access to a broad range of modular, white-label financial services that can be used to enhance existing propositions or launch new ones, helping them accelerate transformation and innovation.
A regulated and operational European technology platform
A pioneer and leading player in Banking-as-a-Service in Europe, Treezor has processed more than €145 billion in transaction flows and issued more than 8.5 million cards since its creation. With regulatory passporting across 25 countries, the company now generates close to 70% of its revenue growth outside France, supported by its local presence in Italy, Spain and Germany.
Since 2021, Shares has developed regulated technology solutions across investment and savings. Initially designed for retail investors, these capabilities have progressively expanded to serve wealth management professionals, financial institutions and employee savings providers.
Supervised by the ACPR and the AMF, the group now brings together regulatory licences and expertise covering electronic money, payment services, investment services and crypto-assets. The platform is designed to meet the resilience, scalability and compliance requirements of the European financial market.
Benjamin Chemla will serve as Chief Executive Officer of the Shares Group and will lead its continued development. Treezor will be led by Cédric Cassini, supported by Julien Mortuaire. Both take on their new roles after holding key positions within fintech for several years.
“The completion of this acquisition marks the creation of a new group. We are bringing together highly complementary areas of expertise around a shared conviction: transforming financial services in Europe requires infrastructure capable of covering the entire value chain, from accounts through to investment. This is the infrastructure we will now build together with the Treezor teams, with the ambition of playing an active role in shaping and consolidating Europe’s digital financial ecosystem,”
— Benjamin Chemla, CEO and co-founder, Shares Group.
“This transaction marks a decisive step for Treezor, our teams and our clients. By combining our payments infrastructure and regulatory expertise with the investment and savings solutions developed by Shares, we now have the capabilities required to build a truly integrated financial infrastructure at European scale. I would like to thank the Société Générale teams, as well as André Gardella and Frédéric Delassalle, for their support and contribution to Treezor’s development. We are very pleased to begin this new chapter alongside Benjamin and the Shares teams,”
— Cédric Cassini, General Manager, Treezor.
The Shares Group will now focus on bringing together the strengths of Shares and Treezor to build a broader financial infrastructure for the European market. The group will continue to invest in its technology and expand its European presence, with the ambition of becoming a leading partner for businesses and financial institutions looking to launch and scale a range of financial products.
Regulatory information
Treezor is an electronic money institution authorised by the ACPR (CIB 16798). Shares Financial Assets is an investment firm authorised by the ACPR (no. 17183) and a crypto-asset service provider authorised by the ACPR and the AMF (no. A2026-028).
About Shares
Founded in 2021, Shares began as a retail investing app before progressively expanding its technology to serve wealth managers and financial institutions.
The Shares group now combines investment and savings technology with banking capabilities added through the acquisition of Treezor, creating a full financial infrastructure stack for European institutions.
Since its inception, Shares has raised $90 million from Valar Ventures, alongside Singular, Global Founders Capital and Red Sea Ventures. The company now has around 150 employees, with offices in France, the UK and Poland.
Shares Financial Assets is an investment firm authorised by the ACPR (no. 17183) and a crypto-asset service provider authorised by the ACPR and the AMF (no. A2026-028). Shares is also a member of the French Tech 120 programme.
About Treezor
Founded in 2016, Treezor is an Electronic Money Institution (EMI) authorized by the ACPR (Autorité de Contrôle Prudentiel et de Résolution) and passported across 25 EU member states.
As a principal member of the Mastercard and Visa networks, Treezor provides a comprehensive, modular Embedded Finance infrastructure. This enables any business—including FinTechs, corporate enterprises, and financial institutions—to integrate white-label payment services via APIs, covering card issuing, account management, as well as SEPA and international payment flows.
As a key partner at the heart of the tech and financial ecosystem, Treezor serves a wide range of sectors: banking & RegTech (regulated entities), digital banking & FinTech, employee benefits & HR Tech, ERP & accounting, PropTech, GreenTech & mobility, TravelTech, HealthTech, WealthTech, and RetailTech.
With over €145 billion in transaction volume processed since its inception, more than 8.5 million cards issued, and an active footprint across France, Germany, Italy, and Spain, Treezor combines high-performance technology, robust security (PCI DSS certified), and regulatory expertise (covering KYC, AML-CFT, and DORA compliance).
Nicknamed the "Unicorn Farmer," Treezor is the strategic partner of choice to support the scaling of tomorrow's major financial players.
