The business decided to terminate the Shares app in the UK and will stop operating there entirely on August 30, 2024. It initially notified UK account holders of this decision in June.

Shares stated in a notice posted on the company's website that between July 19 and August 30, the company will “sell all remaining positions at market price and return the cash to the linked payment means, banking account or cash.” Users were given until July 19 to sell their positions themselves.

The app is available not just in the UK but also in Poland, Belgium, and France, where the firm has its main office.

In its message to UK users, Shares states, "Although the company is stopping its activities in the UK, the company will keep operating in France and other EU countries, which means we will always be available to answer your questions and help you in any way we can."

Founded in 2021, Shares is an app that mixes social networking elements with US fractional share trading. These features include an activity feed, group watchlists, member profiles, chat functionality, and the opportunity for users to exchange their opinions and investing plans with other users.

In February 2022, a $40 million Series A fundraising deal headed by Valar Ventures made possible the company's initial foray into the UK market. In July 2022, the firm successfully raised an extra $40 million through a Series B financing.