Mudrex, an Indian crypto-asset management company intends to make crypto investments easier. In a seed round led by Nexus Venture Partners, it has raised $2.5 million (approx. Rs. 18.5 crores). Nexus has a number of investments in India including Unacademy, Zomato, OLX and many more.
The firm had earlier raised $750,000 from Better Capital, Y Combinator, Woodstock Fund and angels like CEO of Shaadi.com Anupam Mittal and Antler founder Nitin Sharma.
Claimed to be a crypto-based asset management firm, Mudrex offers products just like exchange-traded funds (ETFs) and mutual funds. As opposed to traditional stocks, these funds include a host of crypto-assets like Ethereum, Bitcoin and even stablecoins.
The aim is to allow investors to follow long-term wealth creation and offer a direct approach to the crypto-enthusiasts during unpredictability. CEO and co-founder of Mudrex, Edul Patel said that they will accomplish this by expanding their user community, invalidating myths about crypto dealings and new product introductions like high yield crypto ‘savings account’ and crypto indices, offering superior tools to experienced portfolio managers, creating their mobile apps and much more.
As per him, the firm has been developing at a rate of 30% every month and owns users across 90 nations.
Investors usually lose a lot of money in the crypto market because of panic, uncertainty and turbulence. Mudrex aims to overcome these flaws by presenting new funds, allotting them a risk v/s reward score and finally offering more alternatives to the end-user depending on their requirements, risk appetite and objectives.