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    Home»Finance»Fintech Startup MProfit Raises Fresh Funding
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    Fintech Startup MProfit Raises Fresh Funding

    yourfintechBy yourfintechJanuary 19, 2023Updated:January 19, 2023No Comments2 Mins Read
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    MProfit, a fintech platform that allows investors and wealth professionals to track their multi-asset investments, announced a $2 million funding round in its first round. Rainmatter, Enam Holdings, Gruhas Proptech, Auxano Capital, and Samarthya Investment Advisors all participated in the round.

    MProfit’s products allow users to aggregate their investment portfolios across asset classes and brokers in real-time. MProfit’s proprietary technology, which can read trade files such as contract notes from 700+ stockbrokers and Mutual Fund CAS statements, significantly reduces the manual effort in portfolio management for investors, family offices, financial advisors, and chartered accountants

    Indians today invest in various asset classes that are offered by several financial institutions, making it difficult to get a single view of one’s investments. MProfit, with a mission to solve this problem, enables users to auto-import transaction data from different brokers. By standardizing data from disparate sources, MProfit provides key portfolio insights such as annualized returns (XIRR), asset allocation & capital gains for tax filing.

    “A key motivation for us to build MProfit is rooted in our belief that in India, the concept of tracking investments as a family is very important. Investors generally like to track not only individual portfolios but also their family’s overall returns in one place”

    With a loyal customer base in 300+ cities, MProfit uniquely provides SaaS offerings to both B2C and B2B segments. On the B2C side, MProfit helps investors, HNIs, and family offices track consolidated investments for the entire family. On the B2B front, MProfit helps IFAs, sub-brokers, wealth managers, and CAs manage diversified client portfolios and provide high-quality reporting to their end clients.

    Having closed its first fund-raise, the MProfit team plans to fast-track the deployment of new initiatives. To start with, they aim to roll out new features including advanced performance reporting, tracking for international assets, and API integrations that will make MProfit’s user experience all the more seamless & insightful.

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