Midas

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Turkish investing startup Midas has secured $45 million in a funding round led by Portage of Canada to launch crypto services. 
Midas, Turkey’s retail investing app, has said in a <a href="http://finance.yahoo.com/news/retail-investing-startup-midas-raises-100000693.html" target="_blank" rel="">press release</a> it had raised $45 million from a group of investors to expand its offerings, particularly in crypto trading. The Series A funding round was led by Portage of Canada, with participation from International Finance Corporation, Spark Capital, Earlybird Digital East Fund, and Revo Capital. 
<blockquote class="wp-block-quote"> 
 “Just a few years ago, Turkey did not have a strong investing culture and the market was stagnant – but thanks to Midas, that is changing. We have already brought affordable, quick access to U.S. and Turkish equities to millions of people in Turkey.” 
 Midas founder Egem Eraslan 
</blockquote> 
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Launched in 2021, Midas claims to have attracted over two million users, offering access to Turkish and U.S. equities via a mobile application. With the funding round, Midas plans to broaden its suite of financial products to include mutual funds, interest-generating savings accounts, and crypto trading, although specific details regarding the latter remain undisclosed. 
With the proceeds, the company also eyes expansion beyond Turkey’s borders in the next two-to-five years, targeting the MENA region. The injection of capital will also facilitate Midas’ expansion efforts, doubling its current headcount from 210 employees based in Istanbul. As <a href="https://techcrunch.com/2024/04/19/equities-platform-midas-raises-45m-series-a-as-fintech-retains-its-sparkle-in-turkey/" target="_blank" rel="">noted</a> by TechCrunch, Midas’ latest fundraising appears to be one of the largest by a Turkish fintech in recent years, following closely behind Param, an embedded finance startup that secured $50 million in funding in 2022. 
 Read more: <a href="https://crypto.news/tether-joins-forces-with-fuze-for-educational-venture-in-turkey-and-mena/" rel=""> Tether joins forces with Fuze for educational venture in Turkey and MENA </a>

Turkey’s investing app Midas raises $45m to double down on crypto

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