Shares Completed Acquisition of Fintech Firm Treezor
The fintech group has acquired 100% of the BaaS provider to scale its operations across 25 European Union states.
Updated on Oct. 13, 2026 in Financial Services
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Shares has finalized its acquisition of Treezor from Société Générale, bringing the payments-as-a-service provider into its fold to expand its European footprint. The deal follows an announcement of exclusive talks in January 2026.
Why it matters
The acquisition allows Shares to leverage Treezor's existing payment infrastructure, which has processed over €145 billion in transaction flows since 2016, as it works toward a revenue target of €100 million by 2027.
Treezor has issued 8.5 million cards and processed over €145 billion in transaction flows since 2016. Shares, which employs 150 people, is targeting €100 million in revenue by 2027.
The players
Shares
A financial technology firm with 150 employees operating in France, the UK, and Poland.
Treezor
A payments-as-a-service provider authorised by the Autorité de contrôle prudentiel et de résolution.
Société Générale
A major multinational banking group that is currently restructuring its business portfolio.
Benjamin Chemla
The executive who will lead the newly combined group.
Cédric Cassini
The executive appointed to lead the Treezor business unit.
The details
Shares acquired 100% of the company as part of a portfolio clean-up effort by Société Générale, which originally purchased the firm in 2019. The integration grants the combined group access to Treezor's authorization by the Autorité de contrôle prudentiel et de résolution, allowing for operations across 25 European Union member states. Benjamin Chemla will lead the combined group, while Cédric Cassini will continue to lead Treezor.
Timeline
January 29, 2026: Société Générale announced exclusive acquisition talks.
October 6, 2026: Treezor published notice of acquisition completion.
2027: Target year for group profitability and revenue goals.
Market Landscape
The deal utilizes existing European Union passporting rights to scale payments infrastructure across 25 member states. It follows a trend of traditional banks divesting specialized fintech subsidiaries to streamline their portfolios.
Operators using or evaluating BaaS providers should monitor how this management change affects service levels and product roadmaps in the European market. The group's 2027 profitability goal suggests a potential shift toward prioritizing margin stability over aggressive customer acquisition.
The takeaway
Large financial institutions are increasingly spinning off specialized tech subsidiaries, creating new opportunities for nimble platforms to inherit established market infrastructure. Operators should watch for changes in vendor service terms as these platforms consolidate their operational goals.
What happens next
The combined group aims to reach profitability and a revenue target of €100 million in 2027.
Further reading
For more on industry consolidation, see the Financial Services section.
Source note: This article includes information reported by The Industry Spread.
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