The spherical follows a $2.5 million seed funding the startup raised in August final 12 months led by Nexus Enterprise Companions, Village International with participation from Kunal Shah (Cred), and different angel traders.
Mudrex, the US-headquartered and Bengaluru-based startup launched in 2018, desires to make crypto investing much less dangerous and long-term. It was based by Edul Patel (CEO), Alankar Saxena (CTO), Rohit Goyal (VP, DeFi), Prince Arora (VP, Engineering). The contemporary infusion will probably be used to amass extra customers.
Mudrex simplifies crypto investing by offering merchandise much like ‘Mutual Fund’ and “trade traded fund” however for crypto.
Just lately, crypto funding app, Flint, which additionally operates within the area,
raised $5.1 million in a funding spherical led by Sequoia Capital India and International Founders Capital.
Commenting on the funding, Patel stated in a press release, “Mudrex is bringing wealth tech to crypto. Investing in crypto within the true sense of the time period doesn’t exist at the moment. Most retail customers find yourself buying tokens hoping to multiply their cash in a matter of days. This isn’t investing and may be very dangerous. That is precisely what prevents the frequent retail investor from taking part on this new rising monetary ecosystem.”
Uncover the tales of your curiosity
Rahul Chandra, managing director, Arkam Ventures, added, “Crypto as an asset class is changing into pervasive amongst retail traders the world over. The adoption will probably be accelerated by a product like Mudrex that makes crypto investing simpler for lots by managing complexity of crypto within the background. The crypto asset administration trade is ready to develop to a $12.5 billion trade by 2025 and we’re excited to companion with Mudrex as they broaden crypto possession and wealth creation.”
Discover more from News Journals
Subscribe to get the latest posts sent to your email.
