Istanbul based online brokerage startup Midas has announced that it raised the largest Series A financing round ever for a Turkish fintech company, securing a $45 million investment round from a number of global investors.
With this new investment of $45 million, Midas said that it is preparing to offer its users the opportunity to invest in crypto assets and investment funds in a cost-free and easy way in the very near future.
Canada-based fintech investor Portage Ventures led the round. Other new investor in Midas include IFC (the investment arm of the World Bank), Spark Capital, Earlybird Digital East Fund, and Revo Capital.
Portage Ventures Founding Partner Paul Desmarais III, who led the Series A round, said:
“Midas is leading the transformation trend in Turkey’s financial world. As Portage, we invest in innovative financial technologies on a global scale. We think Midas is ready to lead transformation and innovation in a region open to new financial technologies. We are very pleased to be a part of Midas’ journey and to support this strong team in accessing investment tools for users in Turkey.”
Midas Founder and CEO Egem Eraslan added:
“With this investment, I think we have again demonstrated our determination to become the only mobile application for all Midas’ investment needs. The fact that the world’s largest funds have invested so heavily in Midas shows the trust they have in Midas. Our biggest goal is for our users to have the lowest commissions and the smoothest experience in all investment products. In the coming days, you will be able to invest in crypto assets and TEFAS funds, as well as Turkish and American stock markets, via Midas.
“With the support provided by this investment, we will accelerate the transformation in the Turkish investment ecosystem.”
