Turkey’s first commission-free trading app, Midas, is edging closer to unicorn status after securing a record-breaking $80 million funding round—the largest ever for a Turkish fintech company.
The Istanbul-based brokerage, officially known as Midas Menkul Değerler AŞ, is now valued at nearly $1 billion, according to sources close to the deal. The round was led by QED Investors, a global fintech specialist, with participation from the International Finance Corporation and continued support from existing investors such as Spark Capital. With this latest injection, Midas has raised a total of $140 million since its launch.
Founded in 2020, Midas quickly gained popularity during the pandemic and later amid Turkey’s high-inflation period, as more citizens turned to stock markets to safeguard their savings. The app currently serves 3.5 million users, offering commission-free access to Turkish and U.S. equities, mutual funds, and cryptocurrencies.
Looking ahead, the company plans to broaden its services. According to Can Gemici, Midas’ head of strategy, the fresh capital will fuel the launch of new features, including derivatives, warrants, European stock trading, and corporate accounts.
While Midas hasn’t officially crossed the unicorn threshold, Gemici is confident that milestone is within reach. The company’s rapid growth reflects both rising investor confidence in Turkey’s fintech ecosystem and the growing global demand for accessible, low-cost trading platforms.
With strong backing and ambitious expansion plans, Midas is positioning itself not only as a leader in Turkey but also as a contender in the global digital investing landscape.
