Midas Raises $80 Million in Historic Series B Funding Round, Transforming Turkey's Fintech Landscape

Midas Secures $80 Million in Series B Funding

Midas, Turkey's premier investment platform, has made headlines by raising an astonishing $80 million in its Series B funding round. This marks the largest investment ever recorded in the fintech sector in Turkey, demonstrating not only the company's rapid growth but also the burgeoning interest in the country's financial technology landscape. With this latest round of financing, Midas has now amassed over $140 million in total funding.

Founded in 2020, Midas has quickly gained traction, catering to a community of 3.5 million investors. The platform provides users with seamless access to the Istanbul Stock Exchange, US stock markets, mutual funds, and cryptocurrencies—all within a single application. The newly acquired capital will be utilized to enhance security measures conforming to international standards, and to expedite the launch of advanced products tailored for active traders.

Key Investors Drive Midas Forward

The Series B round was spearheaded by QED Investors, one of the most recognized names in global fintech investment. Notable newcomers to Midas's investment portfolio include the International Finance Corporation (IFC), HSG (formerly Sequoia China), QuantumLight (founded by Nik Storonsky of Revolut fame), Spice Expeditions LP, and George Rzepecki. Support came from existing investors such as Spark Capital, Portage Ventures, Bek Ventures, and Nigel Morris, further solidifying their faith in Midas. These investors have previously backed major tech giants like TikTok, Alibaba, Coinbase, Nubank, Revolut, Twitter, and Slack, underscoring their keen interest in Midas as a pioneering force in Turkey's fintech transformation.

Yusuf Özdalga, partner at QED Investors, expressed confidence in Midas's potential, stating that the platform has been instrumental in providing Turkish users with broad investment opportunities through cutting-edge fintech tools. He highlighted the excitement that QED has in partnering with Midas during this pivotal growth phase, not just in Turkey but across the broader region and beyond.

Transforming Investment Culture in Turkey

Since its inception, Midas has been a game changer for financial access in Turkey. The platform has attracted millions to invest for the first time by offering a user-friendly, commission-free experience. To date, Midas users have saved nearly $50 million in transaction fees. A significant milestone was achieved when the company slashed transaction fees for US trading by 90% and permanently eliminated all fees associated with the Istanbul Stock Exchange by 2025. Additionally, Midas is known for its provision of free live market data and zero-commission instant transfers, making it a favored choice among retail investors in Turkey.

Innovative Products and Enhanced Security

With a mission to democratize investment, Midas is pushing the envelope by introducing tools for more sophisticated investors. Following the rollout of margin investing, advanced analytics, and Midas Pro, the latest Series B funding will launch derivatives trading for Turkish and US stocks beginning in September. Investors can look forward to options trading in the U.S., complete with real-time, free data, competitive pricing, and user-friendly interfaces, thereby establishing the 'Midas Standard' in the derivatives market.

Simultaneously, Midas is ramping up its investments in operational resilience and security. Committed to maintaining a safe and reliable investment ecosystem, the company has designed its infrastructure to meet global standards, ensuring an uninterrupted investment experience for users.

The Future of Investment in Turkey

Egem Eraslan, the CEO of Midas, articulated the vision from day one: to make investment accessible, affordable, and straightforward for everyone. With millions of users now managing their investments on the platform, the recent funding will empower Midas to establish a comprehensive ecosystem that brings together all investment needs under one roof while continuously strengthening its security and technology infrastructure. This commitment positions Midas not only as a leading fintech in Turkey but as a potential powerhouse catering to retail investors globally.

As Midas continues its promising trajectory, the fintech landscape in Turkey appears poised for remarkable transformations, setting high standards for innovation and accessibility.