Turkey’s Robinhood-Style Trading Platform Nears $1 Billion Value

Turkey’s first commission-free trading platform Midas is now valued at nearly $1 billion following its latest funding round, according to people familiar with the matter.

The owner of Istanbul-based brokerage Midas Menkul Degerler AS said earlier this week it has raised $80 million in the largest investment secured by a Turkish fintech company. Led by QED Investors, the round brought in new investors including the International Finance Corporation, in addition to existing backers such as Spark Capital. It takes Midas’ total fundraising to $140 million.

While the latest funding round takes Midas close to the unicorn status, Can Gemici, its ...