Recently, Bengaluru and San Francisco-based crypto asset management dais Mudrex has escalated $2.5 million in a seed round led by Nexus Venture Partners with contribution from Village Global, Kunal Shah, Anand Chandrashekharan, and Anjali Bansal. The firm had prior investment raised $750,000 from Y Combinator, Better Capital, Woodstock Fund, and angels like Nitin Sharma and Anupam Mittal.
Mudrex provides a podium for crypto investing by providing investment products modelled along the lines of ‘mutual funds’ and ‘ETFs’ for long-term prosperity creation. The funds raised will help Mudrex in scaling up the team and operations, acquiring global regulatory compliances and creating innovative products.
Edul Patel, CEO& Co-founder of Mudrex, states, “We’ve been able to scale the business profitably with a growth rate of 30 percent m-o-m over the last 10 months. Today, Mudrex is a global platform with users from over 90 countries. Our vision is to become the leading crypto asset management platform that provides users state-of-the-art products and services to improve their trading decision making and hence returns on investment.”
Participating in crypto is broken. Most marketing employers end up purchasing random indications hoping for 10x revenues in five days with an exact high coincidental of everything accepted to zero. This is not participating and might even be borderline wagering and is precisely what averts the broad retail audience from participating in this new developing financial ecosystem.
Pratik Poddar, principal, Nexus Venture Partners, states, “The cryptocurrency ecosystem is at an inflection point. Mudrex team has shown incredible potential and growth in carving a niche for themselves in a product-first customer-centric manner. They are operating at the intersection of three growth trends - access to wealth management services for retail investors, social investing by a new upcoming class of retail investors who are more risk taking, and crypto trading. They are operating in a market that is on the cusp of breaking out, and we are proud to get a chance to work with the team.”