🏆 Deal of the Week · CW 34/2025
Midas raised USD 80 million in a Series B round; the company's valuation was not disclosed. The round was led by QED Investors, IFC (International Finance Corporation), HSG (formerly Sequoia China), and QuantumLight, the venture firm founded by Revolut CEO Nik Storonsky. The raise marks the largest fintech investment in Turkish history.
Midas — key deal facts
| Company | Midas |
| Founded | 2020 |
| Headquarters | Istanbul, Turkey |
| Amount raised | USD 80m |
| Valuation | Valuation Remains Undisclosed |
| Round | Series B |
| Investors | QED Investors, IFC (International Finance Corporation), HSG (formerly Sequoia China), QuantumLight (founded by Revolut CEO Nik Storonsky), Spice Expeditions LP, and George Rzepecki. The round was also joined by existing backers: Spark Capital, Portage Ventures, Bek Ventures, and Nigel Morris |
| Sectors | Cryptocurrency, Financial Services, FinTech |
Who invested in Midas?
The Series B was backed by QED Investors, IFC, HSG (formerly Sequoia China), QuantumLight, Spice Expeditions LP, and George Rzepecki, with existing investors Spark Capital, Portage Ventures, Bek Ventures, and Nigel Morris also participating. The investor mix is notable for combining a development-finance institution (IFC) with prominent global venture and growth funds, reflecting broad institutional confidence in both the company's emerging-market growth case and its regulatory standing. The presence of QuantumLight, founded by the CEO of Revolut, adds a strategic fintech-operator dimension to the cap table.
What does Midas do?
Midas is a Turkish digital stock brokerage founded in 2020 by Egem Eraslan, who serves as CEO. The platform launched commercially in 2021 and has since grown to more than two million users. Its core products include commission-free trading of Turkish equities on Borsa Istanbul, low-fee access to US stocks with fractional share functionality, mutual funds, savings accounts, and recently added cryptocurrency trading. The company employs over 210 people and is headquartered in Istanbul, Turkey.
Midas valuation & multiples
No multiples analysis is available for this transaction, as the post-money valuation was not disclosed. Once comparable transaction data or a disclosed valuation becomes available, EV/Sales and EV/EBITDA benchmarks can be applied. Explore Venionaire DealMatrix's FinTech and Cryptocurrency sector multiples pages for relevant peer-group valuation ranges.
Explore the benchmarks: Series B Cryptocurrency.
Frequently asked questions
How much did Midas raise in its Series B?
Midas raised USD 80 million in its Series B round; the closing date was reported in 2025.
What is Midas's valuation?
Midas's post-money valuation was not disclosed in connection with the Series B round.
Who invested in Midas?
The round was backed by QED Investors, IFC, HSG (formerly Sequoia China), QuantumLight, Spice Expeditions LP, and George Rzepecki, joined by existing investors Spark Capital, Portage Ventures, Bek Ventures, and Nigel Morris.
When was Midas founded and where is it based?
Midas was founded in 2020 and is headquartered in Istanbul, Turkey.
Source: original announcement — read the full report.