Turkey’s retail investing boom just got its biggest vote of confidence yet. Midas, the country’s leading investment platform, has closed an $80 million Series B—the largest ever for a Turkish fintech. The round, led by QED Investors, pushes the company’s total funding to more than $140 million and cements its role as the go-to gateway for millions of first-time investors.

Why This Matters

Since launching in 2020, Midas has rewritten the rules for Turkey’s investing landscape. With 3.5 million users and a commission-free model, it’s lured a generation of retail investors who had long faced high costs and clunky platforms. Half of Midas’ users made their first-ever trade through the app—a milestone reminiscent of Robinhood’s early disruption in the U.S.

By cutting U.S. stock trading fees by 90% and, as of 2025, eliminating all Borsa Istanbul commissions, Midas claims its users have collectively saved nearly $50 million in transaction fees. That’s no small feat in a country where retail investors have increasingly sought alternatives amid economic volatility and high inflation.

Who’s Backing Midas

The investor lineup reads like a who’s who of global fintech backers:

• QED Investors, the fintech heavyweight that’s bet on Nubank, Klarna, and Credit Karma, led the round.
• IFC, HSG (formerly Sequoia China), QuantumLight (founded by Revolut’s CEO), Spice Expeditions LP, and George Rzepecki joined in.
• Existing supporters—including Spark Capital, Portage Ventures, Bek Ventures, and Nigel Morris—doubled down.

These are the same funds behind giants like TikTok, Alibaba, Coinbase, Twitter, and Slack. Their checkbooks suggest they see Midas not just as a Turkish success story, but as a platform with regional—and potentially global—ambitions.

What’s Next: Derivatives and Security

Midas isn’t just riding momentum; it’s pivoting toward more advanced products. Following the launch of margin investing, advanced analytics, and Midas Pro, the company will soon roll out derivatives trading. First up: U.S. options trading in September, complete with free real-time data, competitive pricing, and the same user-friendly design that’s become its hallmark.

At the same time, the company is pumping money into security and infrastructure upgrades, aiming to hit international standards. In an industry where outages and hacks can be fatal to trust, this move is as much about investor confidence as it is about technology.

The Bigger Picture

Turkey’s retail investor base has exploded in recent years, with younger generations in particular turning to platforms like Midas to hedge against inflation and gain exposure to global markets. The company’s rise mirrors global trends: Robinhood in the U.S., Freetrade in the UK, and Nubank in Latin America.

The difference? Midas is operating in one of the world’s most volatile economies. If it can scale while maintaining trust and security, it could emerge as one of the few Turkish fintechs with the DNA to expand beyond its home market.

CEO Egem Eraslan is betting big: “From day one, our mission has been to make investing accessible, affordable, and seamless for everyone. With this new funding, we are building a comprehensive ecosystem that unifies all investment needs on one platform.”

In other words: commission-free trading was just the beginning.