Midas Raises $80M, Valued at Nearly $1B as Turkey’s Robinhood
Midas, the zero-commission trading platform of Istanbul-based broker Midas Menkul Degerler AS, secured $80 million in a Series B round, pushing its valuation close to $1 billion. The financing was led by QED Investors, with participation from the International Finance Corporation (IFC) and existing backer Spark Capital. With total fundraising reaching $140 million, Midas has emerged as a landmark fintech startup in Turkey. Market analysts compare Midas to Robinhood for its commission-free model. The funds will support product expansion, technology upgrades, and user acquisition across equities, forex, and cryptocurrency trading. As competition intensifies in Turkey’s digital brokerage sector, Midas’s unicorn status underscores growing investor appetite for zero-fee trading platforms in emerging markets.
Neutral
Although Midas’s latest $80M funding and near-$1B valuation showcase strong investor confidence in zero-commission trading platforms, the news pertains to equity financing in a fintech startup rather than specific cryptocurrency developments. As a result, it is unlikely to directly affect cryptocurrency prices or trading volumes. In the short term, the announcement may boost sentiment around digital brokerages and related token offerings, but without immediate crypto-market catalysts, overall impact remains neutral. Historically, similar equity rounds for crypto-friendly brokerages have had limited direct influence on crypto market trends.