Midas, a retail investing startup based in Turkey, has successfully secured $45 million in a Series A funding round led by Portage.
This marks a significant milestone for the company, representing the largest Series A investment ever obtained by a Turkish fintech firm. The funding will support Midas in its expansion efforts and the launch of three new products: cryptocurrency trading, mutual funds, and interest-generating savings accounts.
Key investors contributing to this round include the International Finance Corporation, Spark Capital, Earlybird Digital East Fund, and Revo Capital, with the latter two reaffirming their support following their participation in Midas’s previous seed round in 2022.
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Midas has distinguished itself by providing accessible financial content to educate its user base, including real-time market data, company profiles, documentaries, podcasts, and newsletters. This approach has positioned Midas as a prominent provider of localized financial information in Turkey.
With the Series A funding, Midas plans to extend its reach beyond Turkey, targeting emerging markets within the next two to five years. The investment reflects investors’ confidence in Midas’s customer-centric approach and its commitment to enhancing the affordability and usability of its investment platform, especially amid a global slowdown in fintech investments.
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