Turkish investment platform Midas has secured $80 million in a Series B round, bringing its total capital raised to more than $140 million as it expands offerings and strengthens security infrastructure.
The round, which the company claimed as the largest fundraising by a fintech in the country, was led by QED Investors, with participation from the International Finance Corporation (IFC), HSG (formerly Sequoia China), QuantumLight, Spice Expeditions LP, and investor George Rzepecki.
Existing backers Spark Capital, Portage Ventures, Bek Ventures and Nigel Morris also took part.
Founded in 2020, Midas has grown rapidly to serve 3.5 million investors with access to Borsa Istanbul, U.S. stock markets, mutual funds and cryptocurrencies through a single platform.
The company plans to use the new capital to bring its security infrastructure up to international standards and accelerate the rollout of advanced products, including derivatives trading.
“Midas has unlocked access to vast domestic and global investment opportunities for Turkish users, utilising cutting-edge fintech tools,” said Yusuf Özdalga, partner at QED Investors. “We are proud to lead this round and look forward to being part of this growth journey in Turkiye, the wider region, and beyond.”
Midas said it has already transformed retail investing in Turkey by eliminating commissions on trades in Borsa Istanbul and cutting U.S. trading fees by 90%.
The platform said its users have collectively saved nearly $50 million in transaction costs, with half making their first-ever investment through the app.
The firm has begun rolling out services for active traders, including margin investing and advanced analytics. Starting in September, it will introduce U.S. options trading with free real-time data, competitive pricing and simplified interfaces, aiming to bring what it calls the “Midas Standard” to derivatives markets.
Chief Executive Egem Eraslan said the latest funding would help Midas build “a comprehensive ecosystem that unifies all investment needs on one platform, while further strengthening our security and technology infrastructure.”
Midas charges a flat $1.50 per trade on U.S. exchanges, while offering commission-free access to Borsa Istanbul along with free real-time market data and instant transfers.
Global investors in the Series B have previously backed technology leaders such as TikTok, Alibaba, Coinbase, Nubank, Revolut, Twitter and Slack, underscoring international confidence in Midas’ ability to reshape Turkey’s financial landscape.
Last year, Midas secured $45 million in Series A funding to expand its financial services offerings.
The funding round was led by Toronto-based venture capital firm Portage, known for its significant investments in the Fintech sector, including a recent £25 million Series A round for UK-based startup Zilo.
The investment round saw participation from a consortium of investors, including Earlybird Digital East Fund, International Finance Corporation, Spark Capital, and Revo Capital.
