Midas, Turkey’s leading investment and crypto trading platform, has raised $80 million in its Series B funding round. This is the largest investment ever for a Turkish fintech company, with the firm’s total funding now exceeding $140 million.
According to the announcement, the funding round was led by QED Investors and included new backers like the International Finance Corporation (IFC), HSG, QuantumLight, Spice Expeditions LP, and George Rzepecki. Existing investors such as Spark Capital, Portage Ventures, Bek Ventures, and Nigel Morris also participated.
Founded in 2020, Midas gained popularity during COVID lockdowns and later when inflation in Turkey pushed people toward investing in stocks. The app now serves 3.5 million investors, offering access to U.S. stocks, mutual funds, and cryptocurrencies, as well as stocks listed on Borsa Istanbul.
This funding round brings Midas close to unicorn status. Can Gemici, the company’s head of strategy, said it will probably become a unicorn in the next funding round.
Midas’ Expansion Plans
Midas intends to use the fresh capital to extend its product offerings, which include derivatives, warrants, European stocks, and corporate accounts.
The platform is also expanding its offerings for more experienced investors, including margin investing, advanced analytics, and derivatives trading. Starting in September, U.S. options trading will be available with free real-time data and competitive pricing.
At the same time, Midas is strengthening its security and infrastructure to ensure a safe and reliable investing experience.
Also Read: Ethereum Dev Freed After 24-Hour Detention in Turkey
