Turkey’s first fully digital stock brokerage app Midas raises $11 million

[]
Turkey’s first fully digital stock brokerage app Midas raises $11 million – 1; } /* Disable tracking if the opt-out cookie exists. */ if ( __gtagTrackerIsOptedOut() ) { window[disableStr] = true; } /* Opt-out function */ function __gtagTrackerOptout() { document.cookie = disableStr + ‘=true; expires=Thu, 31 Dec 2099 23:59:59 UTC; path=/’; window[disableStr] = true; } if ( ‘undefined’ === typeof gaOptout ) { function gaOptout() { __gtagTrackerOptout(); } } window.dataLayer = window.dataLayer || []; if ( mi_track_user ) { function __gtagTracker() {dataLayer.push( arguments );} __gtagTracker( ‘js’, new Date() ); __gtagTracker( ‘set’, { ‘developer_id.dZGIzZG’ : true, }); __gtagTracker( ‘config’, ‘UA-143077592-1’, { forceSSL:true, } ); window.gtag = __gtagTracker; ( function () { /* https://developers.google.com/analytics/devguides/collection/analyticsjs/ */ /* ga and __gaTracker compatibility shim. */ var noopfn = function () { return null; }; var newtracker = function () { return new Tracker(); }; var Tracker = function () { return null; }; var p = Tracker.prototype; p.get = noopfn; p.set = noopfn; p.send = function (){ var args = Array.prototype.slice.call(arguments); args.unshift( ‘send’ ); __gaTracker.apply(null, args); }; var __gaTracker = function () { var len = arguments.length; if ( len === 0 ) { return; } var f = arguments[len – 1]; if ( typeof f !== ‘object’ || f === null || typeof f.hitCallback !== ‘function’ ) { if ( ‘send’ === arguments[0] ) { var hitConverted, hitObject = false, action; if ( ‘event’ === arguments[1] ) { if ( ‘undefined’ !== typeof arguments[3] ) { hitObject = { ‘eventAction’: arguments[3], ‘eventCategory’: arguments[2], ‘eventLabel’: arguments[4], ‘value’: arguments[5] ? arguments[5] : 1, } } } if ( typeof arguments[2] === ‘object’ ) { hitObject = arguments[2]; } if ( typeof arguments[5] === ‘object’ ) { Object.assign( hitObject, arguments[5] ); } if ( ‘undefined’ !== typeof ( arguments[1].hitType ) ) { hitObject = arguments[1]; } if ( hitObject ) { action = ‘timing’ === arguments[1].hitType ? ‘timing_complete’ : hitObject.eventAction; hitConverted = mapArgs( hitObject ); __gtagTracker( ‘event’, action, hitConverted ); } } return; } function mapArgs( args ) { var gaKey, hit = {}; var gaMap = { ‘eventCategory’: ‘event_category’, ‘eventAction’: ‘event_action’, ‘eventLabel’: ‘event_label’, ‘eventValue’: ‘event_value’, ‘nonInteraction’: ‘non_interaction’, ‘timingCategory’: ‘event_category’, ‘timingVar’: ‘name’, ‘timingValue’: ‘value’, ‘timingLabel’: ‘event_label’, }; for ( gaKey in gaMap ) { if ( ‘undefined’ !== typeof args[gaKey] ) { hit[gaMap[gaKey]] = args[gaKey]; } } return hit; } try { f.hitCallback(); } catch ( ex ) { } }; __gaTracker.create = newtracker; __gaTracker.getByName = newtracker; __gaTracker.getAll = function () { return []; }; __gaTracker.remove = noopfn; __gaTracker.loaded = true; window[‘__gaTracker’] = __gaTracker; } )(); } else { console.log( “” ); ( function () { function __gtagTracker() { return null; } window[‘__gtagTracker’] = __gtagTracker; window[‘gtag’] = __gtagTracker; } )(); } ]]>

Enabling Turkish investors to invest in both the Turkish and US stock markets, Turkey’s first fully digital stock brokerage app Midas has raised $11 million in equity funding.

The Istanbul-based team of 70 will use the funding to launch a series of crypto products as well as continue building an infrastructure that will support both traditional and neo-banks in their investment offers.

That’s not to say that Midas is the first in Turkey to ever offer such a service, but the startup is the first in the region to do so without charging an arm and a leg to make a trade, a factor that has been cost-prohibitive to many for long.

With banks typically charging $15 to $25 per trade, Midas is spinning gold through dramatically lower fees.

The firm currently places a $1.50 per transaction cost on the deal, but plans are afoot to reduce this number to zero in the future.

Midas has garnered a total of $12 million only 8 months since inception, lead by investors Spark Capital and Earlybird Digital East Fund, and participants Nigel Morris, and Revo Capital.

Read more on Tech Gist Africa:

Huawei takes Sweden to Court for Banning Chinese Tech Giant’s 5G Products

GWI Raises $180M Series B at $850M Valuation for its Market Research SaaS

Wayflyer Raises $150M on a $1.6B Valuation for a New Spin on Providing Loans to e-Commerce Merchants

Get real time update about this post categories directly on your device, subscribe now.

No Result

View All Result

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy. Enabling Turkish investors to invest in both the Turkish and US stock markets, Turkeyu2019s first fully digital stock brokerage app Midas has raised $11 million in equity funding.rnrnrnrn

Thatu2019s not to say that Midas is the first in Turkey to ever offer such a service, but the startup is the first in the region to do so without charging an arm and a leg to make a trade, a factor that has been cost-prohibitive to many for long. rn

With banks typically charging $15 to $25 per trade, Midas is spinning gold through dramatically lower fees. rn

The firm currently places a $1.50 per transaction cost on the deal, but plans are afoot to reduce this number to zero in the future.rnrnrnrn

Midas has garnered a total of $12 million only 8 months since inception, lead by investorsu00a0Spark Capitalu00a0andu00a0Earlybird Digital East Fund, and participantsu00a0Nigel Morris, andu00a0Revo Capital.u00a0rnrnrn rn