Crypto Asset Management Platform, Mudrex secured $2.5 Million in Seed Funding round


Mudrex, a Bangalore based crypto asset management platform, has now secured $2.5 million in seed funding.

Mudrex is founded by the IIT Bombay Alumni in the year 2018. The crypto startup offers a platform that simplifies crypto investing by giving access to innovative investment products modelled along the lines of ‘ETFs’ and ‘Mutual Fund’ for long-term wealth creation. The crypto firm claims to offer the first product that gives investors the ability to invest in algorithmic strategies created by professional traders.

The platform as of now, hosts around 25000 active portfolio managers acquired both via a referral system and organically and have witnessed more than $1 billion in trading on the platform.

Executive Opinion

Pratik Poddar, Principal, Nexus Venture Partners, said, "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."

Anne Dwane, Co-founder & Partner at Village Global, said, "Cryptocurrencies stand out as a new asset class with extraordinary returns over the past decade, but systematic investment products like mutual funds are lacking. Mudrex enables the crypto-equivalent of mutual funds, ETFs, and index funds by letting professional investors create algorithmic crypto trading strategies on the platform. Then, Mudrex makes those algorithms discoverable by other investors who can make informed choices to put money behind the strategies that match their risk/reward profile. It’s a new ecosystem of algorithm creators and those who back their strategies"

Mudrex's Latest Funding

The Nexus Venture Partners led the latest funding round. Other participating investors include Village Global, Anjali Bansal, Kunal Shah, and Anand Chandrashekhar.

The crypto asset management startup has previously secured $750K from the Woodstock Fund, Better Capital, and Y Combinator. 

Mudrex plans to leverage newly raised funds to scale its team and operations, create innovative products and acquire global regulatory compliances, notes the announcement.
PC: Pixabay

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Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

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