Fetcch, a Web3 payments and digital rewards infrastructure platform, announced that it has raised USD 1.5M in pre-seed funding, led by AppWorks Venture and Hashkey Capital with participation from LD Capital, Compute Ventures, M6 and GravityX Capital, NGC.
Fetcch provides a seamless infrastructure for digital payments and rewards platforms especially for the Web3 payments ecosystem with a particular focus on cross-chain payments. The startup has integrated with 23+ wallets clocking daily transaction volumes reaching $35K through the Fetcch platform. Fetcch will use the fresh capital to focus on product development and expand in the Web3 sector while simultaneously building for Web2.5 use cases, according to the statement.
Founded in May 2023 by Mandar Dange and Satyam Kulkarni, Fetcch is an infrastructure platform for digital payments and rewards that is looking to leverage the power of blockchain by enabling seamless real-time settlements for users. Fetcch’s product for enterprises, Deposit Guardrails, is an API/SDK that provides secure and easy deposit functions to institutional platforms like Over the Counter Market (OTCs), market makers, exchanges etc. Furthermore, Fetcch has introduced unified identity to seamlessly facilitate cross-chain, peer-to-peer (P2P), and business-to-consumer (B2C) payments. By integrating with cross-chain solutions like LayerZero, Axelar, Wormhole, CCTP from Circle, and CCIP from Chainlink, Fetcch efficiently manages backend settlements, eliminating users’ need to navigate the intricacies of cross-chain interactions.
Mandar Dange, CEO and Co-founder, Fetcch, said, “We are thrilled to partner with Apppworks, Hashkey, LD Capital, Compute Ventures, M6 and GravityX Capital. Their support during a bear market reinforces our conviction in what we are building at Fetcch. We see a huge opportunity in the payments and loyalty rewards ecosystem and are excited to bridge the gap in the ecosystem. Envisioning a future where Web2 tech businesses will use blockchain at the backend, this funding will enable us to expand our engineering and research team to accelerate the development of cutting-edge payment solutions that empower individuals and businesses to engage in seamless and secure transactions on the blockchain.”
Stanley Wu, Investing Partner, Hashkey Capital, said, “The Fetcch team has strong execution capabilities and has achieved exciting progress in both product development and customer integration over the past few months. HashKey Capital is bullish on Web3 payments will support the company in improving crypto payments products, creating a next-level user experience that can be conducive to mass adoption.”
Bill Hsu, Investing Partner, AppWorks Venture, said, “We believe that Fetcch is at the forefront of Web3 payments innovation. Their vision aligns perfectly with the rapidly evolving blockchain landscape, and we’re excited to support their journey towards reshaping the digital payment industry.”
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