Turkey’s Fintech Firm Midas Attracts Global Backers in $80M Funding Round

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 Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term tools. As QED, we are proud to lead Midas' Series B round, and are incredibly excited to partner with Egem and his team, who 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 Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Read this Term.

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.

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According to the latest report, global investors are increasingly turning their attention to Türkiye, with billions of dollars flowing into a wide range of sectors.

A March study, titled Türkiye’s FDI Landscape at a Glance and published by the Investment Office of the Presidency of the Republic of Türkiye, shows that foreign direct investment (FDI) is on the rise, supported by improved credit ratings and large-scale infrastructure projects.

The report highlights fintech as one of the standout industries attracting major international backers. Türkiye’s fintech ecosystem is expanding rapidly, with several firms positioning themselves as potential unicorns. The country’s commitment to fostering innovation in financial services has made it a key area of focus for global investors seeking growth opportunities.