Mudrex: Crypto platform Mudrex raises $6.5 million in pre-series A

Synopsis

Launched in 2018, Y Combinator-backed Mudrex has clocked a 450 per cent user growth in the last four months from over 100 countries.

The funding round will help Mudrex accelerate user acquisition, licensing and expand rapidly in geographies like India, the US, Europe and Latin America.New Delhi: Mudrex, Bengaluru-based crypto investing platform, has raised $6.5 million in a pre-series A round from Arkam Ventures, Tribe Capital and Bolt by QED Investors.

Launched in 2018, Y Combinator-backed Mudrex has clocked a 450 per cent user growth in the last four months from over 100 countries.

Four months earlier, the start-up raised $2.5 million from seed funding led by Nexus Venture Partners, Village Global with participation from Kunal Shah, Anand Chandrashekharan, and Anjali Bansal.
Presented By

Did you Know?

Sunny Leone took the lead among Indian actors to secure her digital assets when she broke the news about her association with NFT, two months back. This made her the first Indian actress to mint NFTs

View Details »
The funding round will help Mudrex accelerate user acquisition, licensing and expand rapidly in geographies like India, the US, Europe and Latin America.

Edul Patel, CEO & Co-founder of Mudrex, said, “Mudrex is bringing wealth tech to crypto. Investing in crypto in the true sense of the term does not exist today. Most users hunt multibagger cryptos and scripting their get rich quick story. This is not investing and can be very risky. This is exactly what prevents the common retail investor from participating in this new emerging financial ecosystem.”

In equities, investment products such as Mutual funds, ETFs, Index Funds have helped retailers to generate long-term wealth in a simple way.

On the other hand, crypto retail investors have been left to fend for themselves thus far, which is something Mudrex claims it aims to solve. The crypto market is expanding rapidly, with more than 50 million retail investors.

Mudrex is looking to simplify crypto investing by providing products similar to ‘Mutual Funds’ and ‘ETFs’ for crypto. Coin Sets, which is its flagship product, has a retention rate of as high as 90 per cent. Presented By

Crypto Returns Calculator

0x1inchAaveAdExAirSwapAlgorandAnkrAugurAvalancheAxie InfinityBancorBand ProtocolBasic Attention TokenBinance CoinBitcoinBitcoin CashCOTICardanoChainlinkChilizChromiaCivicCompoundCosmosCurve DAO TokenDFI.moneyDIADaiDashDecentralandDigiByteDogecoinEOSElrondEnjin CoinEthereumEthereum ClassicFantomFetch.aiFilecoinGASGalaGolemHarmonyIOSTIndian RupeeInternet ComputerKeep NetworkKyber NetworkLitecoinLivepeerLoopringMakerMetalNEMNEONKNNanoNanoNumeraireOmiseGOPax DollarPolkadotPolygonPower LedgerQuantstampQuarkChainRepublic ProtocolRequestRipio Credit NetworkRippleShiba InuSolanaStatusStellarStorjSushiSwipeSynthetix Network TokenTerraTetherTezosThe GraphThe SandboxTheta FuelTheta NetworkTronTrue USDUSD CoinUniswapVeChainWavesZilliqaaelfdistrict0xiExec RLCyearn.finance

Bought onCurrent Value Buy

Pick the best companies to invest

BECOME AN ETPRIME MEMBER

Source

Updated: 02/09/2022 — 15:00