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 manual effort in portfolio management for investors, family offices, financial advisors, and chartered accountants.
Cumulative Ventures LLP served as the transaction’s sole advisor.
Today, Indians invest in a variety of asset classes offered by various financial institutions, making it difficult to obtain a unified view of one’s investments. MProfit, which was created to address this issue, allows users to auto-import transaction data from various brokers. MProfit provides key portfolio insights such as annualised returns (XIRR), asset allocation, and capital gains for tax purposes by standardising data from disparate sources.
After completing its first round of funding, the MProfit team intends to accelerate the implementation of new initiatives. To begin, they intend to release new features such as advanced performance reporting, tracking for international assets, and API integrations that will enhance MProfit’s user experience.