Midas, a leading fintech in Turkey with over 3.5 million users, has closed the largest investment round ever by a fintech in the country. The startup raised $80 million in a Series B round led by QED Investors.
Thus, Midas’ total investment volume reached $140 million. The investment round included the investment arm of the World Bank, International Finance Corporation (IFC), HSG (formerly Sequoia China), QuantumLight, founded by Revolut founder Nick Storonsky, as well as Spice Expeditions LP and George Rzepecki as new investors. Existing investors – Spark Capital, Portage Ventures, Bek Ventures and Nigel Morris – also joined the round.
The new investment brings Midas closer to “unicorn” status. The startup will use the proceeds to strengthen security measures in line with international standards, introduce new products for professional investors and expand globally.
Currently, Midas operates as a platform that offers Borsa Istanbul, US stock exchanges, investment funds and cryptocurrencies together. The company plans to launch US options contracts in September, which will allow investors to trade with live data, competitive prices and a simple interface.
Midas CEO Egem Eraslan said in a statement:
“Our goal is to make investing accessible, profitable and hassle-free for everyone. With the new investment, we will continue to build a strong ecosystem that can meet the needs of individual investors both in Turkey and globally.”
