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Turkish Fintech startup Midas raises $45m for retail investment platform

Turkish Fintech startup Midas raises $45m for retail investment platform

Fintech startup Midas Raised $45 million in one of Turkey's largest Series A rounds led by Portage Ventures. The funding will enable Midas to expand its retail investment platform, giving consumers in emerging markets access to cryptocurrency and mutual fund products. Since its launch in 2021, Midas has attracted more than two million customers by offering fast and low-cost access to Turkish and US equity, previously burdened by high fees and minimum balance requirements. was

Midas has made it a priority to educate its customers with free financial content, including real-time market data, news, company profiles, documentaries, podcasts, and newsletters. With the new funding, Midas plans to introduce cryptocurrency trading, mutual funds, and savings accounts, aiming to expand its product suite and geographic footprint beyond Turkey. CEO and founder Egem Eraslan expressed the company's commitment to change the investment culture in Turkey and become a leading financial institution in the region.

Paul Desmarais III, co-founder of Portage Ventures, emphasized Midas' role in transforming Turkey's financial landscape and bringing financial inclusion and wealth creation tools to its people. Portage Ventures invests in transformative financial technology globally, recognizing Midas' ability to lead the initiative in a region characterized by early adopters.

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