Midas Raises $45M in Series A Funding to Expand Retail Investing Platform and Launch New Product Lines

Istanbul-based retail investing startup Midas has raised $45m in Series A funding, led by Portage and featuring participation from the International Finance Corporation, Spark Capital, Earlybird Digital East Fund and Revo Capital. The company plans to use the funds to expand its product lines, including crypto trading, mutual funds and a savings product, and to double its headcount to more than 400. Midas has already brought affordable access to US and Turkish equities to millions of people in Turkey via its app, which also offers free financial content such as real-time stock market data and news. CEO Egem Eraslan said the funding would allow the company to expand its geographic footprint beyond Turkey.