The startup plans to use the funds to expand beyond retail investing into cryptocurrency trading, mutual funds and savings accounts, as well as double its headcount to more than 400 and reach new customers in emerging markets. International Finance Corporation and existing investors Spark Capital, Earlybird Digital East Fund and Revo Capital also participated. (The Logic)
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The startup plans to use the funds to expand beyond retail investing into cryptocurrency trading, mutual funds and savings accounts, as well as double its headcount to more than 400 and reach new customers in emerging markets. International Finance Corporation and existing investors Spark Capital, Earlybird Digital East Fund and Revo Capital also participated. (The Logic)
Talking point: Portage is affiliated with Montreal-based Power Corp., the primary source of the Desmarais family fortune with holdings in some of Canada’s highest-profile fintechs, including Koho, Clearco and Borrowell. Portage co-founder Paul Desmarais III said in a release that Midas is set to be a fintech leader “in a region of early adopters.” Midas says it has more than two million users and markets its low transaction and commission fees to Turkish investors who buy Turkish or U.S. stocks. It also offers financial content, stock market data and news.
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