Crypto startup Mudrex raised $2.5 million in a recent fundraising that was led by Nexus Venture Partners. In addition, Village Global, Kunal Shah and Anand Chandrashekharan participated in the round.
Previously, Mudrex was supported by Y Combinator, Better Capital, Woodstock Fund, and also Nitin Sharma, Anupam Mittal with a sum of $750,000.
This investment will be used to expand the scale of operations and the team of Mudrex. Additionally, this company will also promote the creation of innovative, regulatory-compliant products.
Mudrex was founded 3 years ago and is now headquartered in Bengaluru and San Francisco.
The company works toward the goal of creating systematic investment products in the field of cryptocurrency. By simplifying crypto investment and providing modeled investment products, Mudrex makes it possible for users to form “mutual funds” and “exchange-traded funds” and create assets that can be held over the long term.
It is developing a rich technology and scaling the business with a 30% monthly growth rate maintained over the past 10 months. Mudrex would like to be a premier crypto management platform.
At the same time, the company will bring modern services and products to help customers earn profits by making the right choices. Currently, Mudrex users come from more than 90 countries.
The platform also has over 25,000 active portfolio managers. Furthermore, these managers have seen over $1 billion in assets traded on their own platforms. The current cryptocurrency market is considered to be vibrant and full of potential. Therefore, Nexus Venture Partners sees potential for Mudrex in the future.
Cryptos offer investors a way to exit the fiat financial system, and also a pathway into a new kind of financial technology that can change the way people see money. Despite the opportunity, very few banks offer managed crypto investment products.
Mudrex is giving crypto investors and portfolio managers new tools, and may see an influx of users as cryptocurrency becomes more popular.