Midas
Overview
Midas is a Turkish fintech company recognized for its innovative investment platform, which allows users to access multiple financial markets, including Borsa Istanbul, U.S. stock markets, mutual funds, and cryptocurrencies, via a centralized application. Founded in 2020, Midas has rapidly expanded its user base to over 3.5 million, becoming a notable player in the retail investing sector in Turkey. As of August 2025, the company has successfully raised over $140 million, with its latest Series B round securing $80 million. The company's headquarters is located in Istanbul, Turkey, and its leadership is spearheaded by CEO Egem Eraslan.
Recent Developments
- August 2025: Midas announced the closure of its Series B funding round, securing $80 million. This round was led by QED Investors, with participation from influential investors like the International Finance Corporation, Sequoia China's HSG, QuantumLight, and more. This funding marks the largest investment in a Turkish fintech company to date.
- 2025: In a strategic attempt to expand its product offerings, Midas plans to introduce derivatives trading options across Turkish and U.S. equities, alongside bolstering its security infrastructure to meet international standards.
- 2025: The company has also eliminated all commissions on trades executed on the Borsa Istanbul Stock Exchange and significantly reduced fees for U.S. stock trading, making Midas a highly cost-efficient platform for Turkish investors.
- Early 2025: Midas raised $45 million in its Series A round, the largest Series A for a Turkish fintech startup, which facilitated the enhancement of its security measures and product expansion to cater to sophisticated investors.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2020 |
| Headquarters | Istanbul, Turkey |
| Founders | Egem Eraslan |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | QED Investors, IFC, HSG, QuantumLight |
| Industry | Fintech |
| Number of Employees | Not publicly disclosed |
Early History
Founded in 2020, Midas quickly emerged as a disruptive force in Turkey's fintech landscape by democratizing access to various financial markets for retail investors. Recognizing the limited avenues for average citizens to engage in stock market trading, Midas introduced a commission-free and user-friendly investment platform that granted seamless access to the U.S. and Turkish stock exchanges. The platform rapidly gained traction, with Midas attracting 3.5 million users within its first few years of operation. By strategically eliminating trading fees and focusing on user experience, the company revolutionized the investment approach for a significant segment of the Turkish populace.
Company Profile and Achievements
Midas operates through an innovative business model that seeks to make investing accessible and affordable for everyone, using technology to simplify the investment process. The platform offers multiple features:
- Commission-Free Trading: Users can trade stocks on Borsa Istanbul without incurring commission fees.
- Broad Market Access: The platform provides access to not only domestic markets but international ones, including the U.S. stock market and various mutual funds and cryptocurrencies.
- Technological Integration: Midas employs cutting-edge fintech tools and has introduced advanced features such as margin investing and analytics through "Midas Pro" to attract sophisticated investors.
- Customer Growth: The company achieved rapid growth, attracting millions of first-time investors, with approximately half starting their investment journey on the platform.
- Product Expansion: Plans for launching derivatives trading will expand Midas's offerings, appealing to a broader investor demographic. This includes rolling out U.S. options trading with a focus on providing competitive pricing and real-time data access.
Current Operations and Market Position
Midas continues to play a pivotal role in Turkey's fintech sector, standing out with its customer-centric platform that combines traditional and modern financial instruments under one application. The company has positioned itself as a frontrunner by continuously broadening its investment toolset while maintaining a strong emphasis on security and operational integrity. With its commitment to low-cost trading and seamless user experiences, Midas has established itself as a leading option for retail investors in Turkey. Upcoming expansions into derivatives and enhanced security systems are poised to strengthen Midas’s market position both domestically and internationally.
Conclusion
Midas has substantially impacted the Turkish fintech market by pioneering a platform that facilitates accessible and comprehensive investment solutions. Its ability to attract major investment and foster significant user growth has positioned Midas as a key player in not only democratizing financial markets within Turkey but also establishing a foothold in the global fintech landscape. Moving forward, the company is likely to further expand its capabilities and offerings, setting new standards for financial inclusivity and investment accessibility.