Turkey’s fintech platform Midas secured a record $80 million Series B funding, led by QED Investors, making it the largest fintech investment in the country’s history.
This significant funding boost positions Midas as a leading investment platform competing regionally, with potential growth in cryptocurrency offerings further enhancing its global financial influence.
Midas Achieves Turkey’s Largest Fintech Funding
Turkey’s fintech company Midas recently raised $80 million in a Series B funding round. This funding event marks the largest fintech investment ever recorded in Turkey, highlighting significant interest from global institutional backers.
The Series B round was led by QED Investors, with contributions from the International Finance Corporation, HSG, and QuantumLight. This move positions Midas as a regional leader, demonstrating its potential in unlocking domestic and global investment opportunities for Turkish users.
“Midas has unlocked access to vast domestic and global investment opportunities for Turkish users, utilising cutting-edge fintech tools. As QED, we are proud to lead Midas’ Series B round, and are incredibly excited to partner with Egem and his team, who have created an exceptionally strong product and performance culture.” – Yusuf Özdalga, Partner, QED Investors, source
$80M Boosts Midas’s Growth Potential
Midas’s $80M funding influx could significantly impact its growth trajectory. The backing from heavyweight investors underscores confidence in the firm’s ability to expand its fintech offerings further.
With over 3.5 million users, Midas plans to use the funds to roll out derivatives trading and enhance its commission-free model. These developments could attract more users and investors, potentially boosting the fintech sector in the region.
Midas Defies Global Fintech Funding Decline
This investment round surpasses the company’s previous $45 million Series A funding. It stands out globally as fintech funding declined from $35 billion to $28 billion last year, marking it a key outlier.
Experts suggest Midas’s rapid expansion and innovative offerings could lead to increased local adoption of crypto and blockchain tools. The company’s funding success is seen as a potential catalyst for further fintech growth.
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