Shares, a Paris-based investment and savings fintech, said on Tuesday, October 6, 2026, that it had completed its acquisition of 100% of Treezor from Société Générale after all the conditions required to close the deal were met. The price was not disclosed. Treezor is a French e-money institution (EMI) that sells accounts, cards, and payments to other companies through APIs, a model known as banking-as-a-service (BaaS). Société Générale announced its purchase of the company in September 2018.
The deal puts Treezor’s accounts, cards, and payments in the same group as Shares’ savings and investment technology. Shares says the combined group will offer businesses and financial institutions modular, white-label services spanning accounts, payments, savings, and investment. “The completion of this acquisition marks the creation of a new group,” said Benjamin Chemla, Shares’ co-founder, who will serve as CEO of the Shares Group.
An EMI with a 25-country passport and two card network memberships
Treezor is authorized as an EMI by the ACPR, France’s banking supervisor, and passported across 25 EU member states. The October release dates its founding to 2016, while Société Générale’s 2018 announcement and AFP give 2015. As a principal member of Mastercard and Visa , it lets fintechs, corporates, and financial institutions add white-label card issuing, account management, and SEPA and international payments to their own products through APIs. Close to 70% of its revenue growth now comes from outside France, supported by its local presence in Italy, Spain, and Germany, the release says. In April 2024, the ACPR’s Sanctions Committee reprimanded Treezor and fined it €1 million for very serious failings in its anti-money-laundering and counter-terrorist financing (AML/CFT) obligations, AFP noted in January.
When Société Générale announced the acquisition on September 20, 2018, Treezor had 30 employees, served about 30 financial-sector companies, and had issued 300,000 payment cards. When Shares announced exclusive talks in January 2026, its statement credited Treezor with more than €130 billion in transaction flows and more than 8 million cards issued.
| Date | Announcement | Figures reported |
|---|---|---|
| Sept. 20, 2018 | Société Générale announces its acquisition | 30 employees, about 30 clients, 300,000 cards issued |
| Jan. 29, 2026 | Shares enters exclusive talks | More than €130B in flows, more than 8M cards |
| Oct. 6, 2026 | Shares completes the deal | More than €145B in flows, more than 8.5M cards, 25-country passport |
An investing app turned technology supplier
Shares was founded in 2021 as a retail investing app. In 2024 it began opening up to wealth management and collective savings, where it now sells technology to professional firms, according to its January announcement. It has raised $90 million from Valar Ventures, alongside Singular, Global Founders Capital, and Red Sea Ventures, and employs about 150 people, with offices in France, the UK, and Poland. Its subsidiary Shares Financial Assets is authorized by the ACPR as an investment firm and, by the ACPR and the AMF, France’s markets regulator, as a crypto-asset service provider.
New management at Treezor
Chemla will lead the Shares Group. Treezor will be led by Cédric Cassini, supported by Julien Mortuaire. “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,” said Cassini, Treezor’s general manager.
Talks opened in January, with regulatory approval among the conditions
Shares announced exclusive negotiations with Société Générale on January 29, 2026, and made the deal subject to definitive agreements, the applicable employee consultation procedures, and prior regulatory approvals. The October 6 release says all the conditions required to complete the transaction have now been met. Neither announcement disclosed a price. Société Générale had already sold Shine, a business-account fintech, to Ageras, a sale completed in November 2024, FrenchWeb noted on October 7.
Shares says the group will keep investing in its technology and expand its European presence, aiming to become a leading partner for businesses and financial institutions that launch financial products.