Midas secures ‘largest ever’ investment for Turkish FinTech

Turkish investment platform Midas has raised $80 million in its Series B funding round.

According to the company, the move marks the largest ever investment secured by a FinTech in Turkey.

The investment brings its total funding to date to over $140 million.

The company said it will use the new capital to strengthen its security infrastructure to international standards and accelerate the launch of advanced products designed for active traders.

Founded in 2020, Midas currently serves 3.5 million investors, providing access to Borsa Istanbul, US stock markets, mutual funds, and cryptocurrencies through a single platform.

"Today, millions of people manage their investments through Midas," said Egem Eraslan, chief executive, Midas. "With this new funding, we are building a comprehensive ecosystem that unifies all investment needs on one platform, while further strengthening our security and technology infrastructure.

"This will enable us to keep growing as a FinTech company that serves the needs of individual investors both in Turkey and globally."

The company says that after democratising investing "for the masses" it is now expanding into tools for more sophisticated investors.

Following the launch of margin investing, advanced analytics, and Midas Pro, the company will use its Series B funding to introduce derivatives trading in both Turkish and US equities.

The rollout will begin in September with US options trading.

The business added that it is also increasing its investments in security and operational resilience.

The FinTech's latest funding round was led by QED Investors, with new investors including the International Finance Corporation (IFC), HSG (formerly Sequoia China), QuantumLight (founded by Revolut chief executive Nik Storonsky), Spice Expeditions LP, and George Rzepecki.

Existing backers Spark Capital, Portage Ventures, Bek Ventures, and Nigel Morris also joined the round.

The participating funds are known for early-stage investments in global technology leaders such as TikTok, Alibaba, Coinbase, Nubank, Revolut, Twitter, and Slack.



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