Turkey's fintech firm Midas has secured $80 million in Series B funding, marking a milestone for the Country’s growing financial technology sector. Global investors back the Istanbul-based investment platform.

A Global Bet on Turkish Fintech

QED Investors led the round, joined by new backers International Finance Corporation, HSG, QuantumLight, Spice Expeditions, and George Rzepecki. Existing supporters Spark Capital, Portage Ventures, and Bek Ventures also participated. The raise lifts Midas’ total funding to more than $140 million.

Yusuf Özdalga, Partner at QED Investors, said: "Midas has unlocked access to vast domestic and global investment opportunities for Turkish users, utilising cutting-edge fintech tools. As QED, we are proud to lead Midas' Series B round, and are incredibly excited to partner with Egem and his team that have created an exceptionally strong product and performance culture."

Founded in 2020, Midas has attracted 3.5 million users with commission-free access to Borsa Istanbul, U.S. equities, mutual funds, and cryptocurrencies. The platform eliminated local stock trading commissions earlier this year, after previously cutting U.S. trading fees by 90%. Users have collectively saved an estimated $50 million in transaction costs.

Scaling Into Advanced Products

The company plans to channel fresh capital into derivatives trading and new tools for active investors. U.S. options trading will launch in September, followed by Turkish equity derivatives. Recent product rollouts already include margin investing and advanced analytics.

Midas said part of the funding will support improvements to its infrastructure, focusing on operational resilience and data protection. With its largest round to date and backing from major global funds, the company is positioning itself as a key player in both Turkey and the wider region.

Source: Finance Magnates