Mudrex

Mudrex is a fintech startup founded in early 2018, with its corporate headquarters in San Francisco, United States, and operational offices located in Bengaluru, India.

The platform serves over three million users, managing $25 million+ in assets, and offers cryptocurrency buying, trading, and investment services. Mudrex provides tools such as Coin Sets, trading futures, and portfolio tracking, emphasizing security, compliance, and user experience.¹

It was founded by Snehil Buxy, Rohit Goyal, Alankar Saxena, Edul Patel, and Prince Arora. The company operates as a platform for trading digital and cryptocurrency assets. Since its founding, Mudrex has raised $22.2 million in funding from investors including Y Combinator, Nexus Venture Partners, and Village Global.

As of 2026, Mudrex faces competition from over 500 companies, including 24 funded startups and three that have exited. Its principal competitors include Auros, CoinRoutes, and Crypto Facilities, reflecting the highly competitive nature of the cryptocurrency trading and investment industry.²

History

Mudrex is a fintech company founded in 2018 by Edul Patel, Alankar Saxena, Snehil Buxy, Rohit Goyal, and Prince Arora. Headquartered in Bengaluru, India, it provides a platform for trading and investing in cryptocurrencies, including algorithm-driven portfolios. Mudrex has raised $22.2 million from investors like Y Combinator and Nexus Venture Partners and serves over three million users globally. The retail investor base began investing in cryptocurrencies during 2021, which led Mudrex to create products that serve this customer segment because it constitutes a major share of the market. The company developed a new business model to create cryptocurrency investment solutions that anyone could easily use.³

Murdex recorded a 2400% increase in users in Q1 2022, making it the largest crypto index investing platform globally. Its flagship product, Coin Sets, allows investors to buy themed baskets of crypto tokens for long-term wealth creation.

The platform has over 250000 active users and employs 65 staff members. The Indian users base brought more than 80% of the platform's growth because users adopted automated crypto investment despite the ongoing regulatory uncertainty.⁴

In October 2021, Mudrex launched Coin Sets, a theme-based crypto index product, which quickly attracted more than 50000 investors within the first six months. The platform launched Recurring Investments in March 2022, which allowed users to make investments according to their preferred schedule through daily and weekly and monthly investments that required only small amounts of money and provided free service while automatically performing dollar-cost averaging to make their long-term investment growth easier.⁵

Mudrex entered the European market in May 2023 after obtaining its Virtual Asset Provider registration which permitted the company to function as a licensed broker-dealer and crypto custodian. The company launched Coin Sets in Italy and opened a Milan branch to ensure regulatory compliance. The company expanded its operations by hiring local influencers who included Surry Talo and Carmine Migliaccio. CEO Edul Patel explained that his company aimed to make crypto investing available to all Italian investors through safe and easy-to-use investment options that complied with all European Union regulations.⁶

Products

Mudrex functions as an all-inclusive investment platform for cryptocurrency investors by providing secure digital asset purchasing and selling and asset management tools.

Investors can use the main product Coin Sets to invest in predefined cryptocurrency baskets which track specific themes and automatically adjust their holdings to provide safer investment practices.

Crypto futures trading offers more than 500 trading pairs while allowing users to select between 100x leverage for both retail and institutional trading.

The company provides two extra products which consist of Mudrex Prime as a high-value OTC service for wealthy customers and Saber.money as a worldwide fiat currency exchange platform that supports various tokens and blockchains and multiple countries.

The platform operates with strong security measures and compliance standards after receiving licenses from FIU-India, OAM-Italy and VASP-EU and it implements KYC and 2FA and encrypted storage and insured custodial funds.⁷

Initiative and Outreach

Mudrex actively promotes financial literacy in the cryptocurrency sector through various educational programs and community engagement initiatives

Satoshi School: It is a free online educational platform about cryptocurrency and Web3.0 which Mudrex launched in February 2023 operates as Satoshi School. The program provides interactive learning materials together with practical case studies and assessment tools and certification tracks to users who want to study from entry level to expert level. The program aims to enhance financial literacy about digital assets which enables users to make sound financial choices while they participate in the cryptocurrency market.⁸

WAGMI Community: Mudrex introduced WAGMI in January 2023 as a student community dedicated to Web3.0 technology development which aims to eliminate existing technological disparities. The initiative, tested over six months, partners with 20 clubs across 15 Indian colleges, offering live projects, AMAs, case competitions, and panel discussions to foster innovation. The community achieved 79.75% monthly growth while maintaining 23% engagement which resulted in higher student participation for crypto and Web3.0 activities.⁹

SatoshiGPT: Satoshi GPT is an AI-powered platform that delivers accurate cryptocurrency answers to users which Mudrex introduced in June 2023. The system uses its vast knowledge database which constantly updates to provide users with simplified explanations of complex subjects and current market developments and token information. Users can ask follow-up questions, get summaries, and make informed decisions, enhancing crypto learning and investment efficiency.¹⁰

The Flippening: Flippening describes a potential future event which would see Bitcoin lose its current position as the top cryptocurrency in the market. The idea was first presented to the public in 2017 which predicts that another cryptocurrency will surpass Bitcoin to achieve a higher market value than Bitcoin. Theoretical arguments about the flippening show that Bitcoin will maintain its market dominance because of its basic design and first mover advantage and widespread user base.¹¹

Funding

Since its inception, Mudrex has raised a total of US$22.1 million from various venture capital firms and investors. The company completed its first funding round in 2019 when Y Combinator provided $500,000 for its seed capital. The company received a pre-seed investment of $250000 from WoodStock Capital in 2020. The company raised $2.5 million from Nexus Venture Partners ¹²during its August 2021 seed round through Mudrex. The company raised $6.5 million from Arkam Ventures ¹³during its December 2021 pre-Series A funding round. The 2022 funding round brought in approximately $12.3 million from SWC Global.

Bitcoin Pizza Day Celebration

Mudrex celebrated Bitcoin Pizza Day in May 2023 by distributing pizzas to about 300 startups and companies located in Bengaluru. The initiative, which Via Milano and the organization implemented, aimed to celebrate cryptocurrency history while connecting with the local startup ecosystem.¹⁴

The initiative commemorated the broader adoption of cryptocurrencies and recognized Laszlo Hanyecz’s historic role in the crypto industry, referencing his purchase of two pizzas with 10,000 bitcoins in 2010.¹⁵

Awards and Recognitions

• Mudrex received the NASSCOM Emerge 50 Award for Coin Sets (2021).¹⁶
• Received 'Outstanding Product or Service' (FinTech) for Coin Sets in Technology Excellence Awards (2022).¹⁷
• Recognized as the Best Crypto Investing Platform of the Year at the Web 3 Summit organized by Entrepreneur India ¹⁸

Mudrex was honored with the “Fintech Startup of the Year” award at the FinTech Festival-3rd edition by Business World (June 2023).¹⁹

The company received the “Most Trusted Crypto Investment Platform” award at the Web3.0 Conclave organized by Business World (July 2023)²⁰

¹ Mudrex, “Company Profile: Empowering Cryptocurrency Investments”, Achieved

² Tracxn, “Mudrex - Company Profile”, Achieved, Retrieved February 2026

³ Tracxn, “Mudrex - Company Profile”, Achieved, Retrieved February 2026

⁴ Cryptonary, “Mudrex records a 2400% increase in users: Becomes the largest crypto index investing platform”, Achieved, Retrieved April 2022

⁵ Mudrex, “Introducing Recurring Investments on Mudrex Coin Sets”, Achieved, Retrieved March 2022

⁶ Financial Express, “Mudrex extends services to Europe through virtual asset-based registration”, Achieved, Retrieved May 2023

⁷ Mudrex, “Company Profile: Your One Stop Platform For Crypto Investing”, Achieved

⁸ Financial Express, “Mudrex unveils Satoshi School to provide cryptocurrency and Web3.0-oriented education”, Achieved, Retrieved February 2023

⁹ Financial Express, “Mudrex unveils Satoshi School to provide cryptocurrency and Web3.0-oriented education”, Achieved, Retrieved February 2023

¹⁰ Mudrex, “Introducing Satoshi GPT: Your AI for All things Crypto”, Achieved, Retrieved June 2023

¹¹ Mudrex, “Company Profile: Flippening”, Achieved

¹² Your Story, “[Funding alert] Crypto investing platform Mudrex raises $2.5M in seed round led by Nexus Venture Partners”, Achieved, Retrieved August 2021

¹³ Live Mint, “Y-combinator backed crypto investment platform Mudrex Raises $6.5 mn in Pre-series A”, Achieved, Retrieved February 2022

¹⁴ Financial Express, “Mudrex distributes pizzas to observe Bitcoin Pizza Day”, Achieved, Retrieved May 2023

¹⁵ Investopedia, “Bitcoin Pizza Day: Celebrating the 10,000 BTC Pizza Order”, Achieved, Retrieved January 2025

¹⁶ Nasscom, “Celebrating India’s Emerging Software Product Companies”, Achieved, Retrieved 2021

¹⁷ APN News, “Mudrex Bags ‘Fintech Startup of the Year’ Award at Festival of Fintech 2023”, Achieved, Retrieved July 2023

¹⁸ Financial Express, “Web3.0 conclave witnesses Mudrex bag ‘Most Trusted Crypto Investment Platform’ award”, Achieved, Retrieved July 2023

¹⁹APN News, “Mudrex Bags ‘Fintech Startup of the Year’ Award at Festival of Fintech 2023”, Achieved,  Retrieved July 2023

²⁰APN News, “Headline: Mudrex Receives ‘Most Trusted Crypto Investment Platform’ Award at the Web 3.0 Conclave”, Achieved,  Retrieved July 2023