Founded in 2024, the company turns investment products into digital tokens that can be traded on blockchain networks. The process, known as tokenisation, has drawn growing attention in recent months with proponents seeing it as a way to modernise capital markets by creating financial products more transparent and simpler to trade.
However, the still-nascent indusattempt faces uncertainty around regulations, which could hamper broader adoption, as well as increased competition as financial heavyweights enter the space.
Other investors in Midas’s funding round included Framework Ventures, HV Capital, Ledger Cathay, M1 Capital, Anchorage Digital, FJ Labs, North Island Ventures, No Limit Holdings and GSR.
The company did not disclose its latest valuation.
The financing exceeded the amount startups typically haul in at this stage. According to data from research firm PitchBook, the median size for Series A and Series B funding rounds in Europe stood at 14.4 million euros ($16.58 million) last year.
“A significant share of our early adopters are crypto-native, but we are seeing growing interest from larger institutions that want to work with tokenised assets,” Midas co-founder and CEO Dennis Dinkelmeyer informed Reuters.
The company plans to invest proceeds from the round into its core infrastructure. While Midas does not yet operate in the United States, Dinkelmeyer declared it was on the “roadmap”.
“We’re actively investing in the legal and regulatory framework for U.S. enattempt so that when we do choose to expand there, we can do so in a way that’s durable, scalable and fully aligned with the local regulatory framework,” he added.
(1 euro = $1.1511)
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