HomeFundingMidas Secures $80M in Series B Funding

Midas Secures $80M in Series B Funding

Midas Secures $80M in Series B Funding

Midas, an investment platform based in Istanbul, Turkey, has raised $80 million in its Series B funding round.

The funding round was led by QED Investors. New investors in this round include the International Finance Corporation (IFC), HSG (formerly Sequoia China), QuantumLight (founded by Revolut CEO Nik Storonsky), Spice Expeditions LP, and George Rzepecki.

Existing investors such as Spark Capital, Portage Ventures, Bek Ventures, and Nigel Morris also took part in the round.

The company plans to use the funds to grow its operations and continue developing its platform.

Midas, led by CEO Egem Eraslan, provides an investment platform that allows users to access Turkish and U.S. stocks, mutual funds, and cryptocurrencies all in one place.

Since its launch, the company has grown quickly and now serves over 3.5 million investors.

The company allows trading on U.S. exchanges with a flat fee of $1.50 per transaction. For Borsa Istanbul, it has permanently removed all commissions and account-related charges, including clearing and custody fees.

It also gives users free access to real-time market data on the platform.

This has increased Midas’ total funding to over $140 million.

Read more- PeelOn raises $1 million in funding

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