Turkey's first commission-free platform Midas is valued at nearly $1 billion, setting a record for financing.

[Block Rhythm] On August 22, it was reported that Turkey's first commission-free trading platform Midas is valued at nearly $1 billion after its latest funding round. The company announced earlier this week that it has secured $80 million in funding, setting a new record for financing among Turkish fintech companies. This round of financing was led by QED Investors, with new investors including the International Finance Corporation (IFC), and existing investors such as Spark Capital also participating.

As of now, Midas's total funding has reached $140 million. Midas is owned by the Istanbul brokerage firm Midas Menkul Degerler AS and is regarded as the Turkish version of a commission-free trading platform.