Midas Secures Multi-Million Dollar Funding, Expands Investment Horizons

Turkish retail investing startup Midas has secured $45 million in Series A funding, marking the largest ever for a Turkish fintech company. The funds will be used to expand Midas' offerings to include cryptocurrency trading, mutual funds, and savings accounts, and to expand beyond Turkey into other emerging markets.

Midas Secures Multi-Million Dollar Funding, Expanding Investment Horizons

Istanbul, Turkey - April 25, 2023 - Midas, a rapidly growing retail investing platform, has successfully closed a multi-million dollar Series A funding round, marking a significant milestone in the company's trajectory. This funding infusion represents the largest Series A investment ever secured by a Turkish fintech enterprise and is set to fuel Midas' ambitious growth plans.

Founded in 2021, Midas has consistently strived to democratize the retail investment market in Turkey, empowering over two million users with accessible financial services. The recently acquired funding will serve as a catalyst for expanding Midas' service offerings, transcending Turkish and U.S. equities, and unlocking novel avenues for growth and investment.

Announcing the successful funding round on April 22nd, Midas disclosed the acquisition of $45 million through equity financing. This capital infusion will propel the expansion and launch of three groundbreaking offerings: cryptocurrency trading services, mutual funds, and savings accounts.

The company intends to leverage the additional resources to extend its reach beyond Turkey's borders within the next two to five years, primarily targeting promising "emerging market" nations within the Middle East and North Africa (MENA) region.

"This fundraising will empower us to further enhance our product suite, with mutual funds, savings products, and cryptocurrency trading at the forefront of our ambitions," stated Egem Eraslan, CEO, and founder of Midas. "Over time, we aspire to broaden our scope and expand our geographical presence beyond Turkey, solidifying our position as a prominent regional player."

Midas has demonstrated a resolute commitment to market education, providing investors with comprehensive financial information free of charge. This educational endeavor encompasses real-time stock market updates and news, in-depth company profiles, insightful documentaries, a daily podcast, and a weekly newsletter, effectively guiding investors through the market labyrinth. Through this approach, Midas has emerged as a pioneer in delivering the most comprehensive localized financial resources to investors in Turkey.

With the fresh influx of capital, Midas intends to bolster its workforce considerably. Currently, the company boasts a robust team of 120 professionals operating from its Istanbul headquarters, a threefold increase from its employee count in 2022.

This recent funding round underscores the investor community's confidence in Midas' vision and execution capabilities. The company's strategic initiatives, coupled with its robust financial foundation, position it well to continue its growth trajectory and revolutionize the retail investment landscape in Turkey and beyond.