Fetcch raised $1.5 M Pre-seed funding from AppWorks
The pre-seed round of $1.5 million has been raised by Fetcch, a web3 payments and digital rewards infrastructure platform. Hashkey Capital and AppWorks Venture led the round, with participation from LD Capital, Compute Ventures, M6, and GravityX Capital, NGC.
Fetcch claims that the money will be utilized to build for Web2.5 use cases while concentrating on product development and growing in the Web3 industry.
Fetcch, which was founded in May 2023 by Mandar Dange and Satyam Kulkarni, offers a rewards platform and digital payment infrastructure specifically for the Web3 payments ecosystem with an emphasis on cross-chain payments.
Deposit Guardrails, the company’s enterprise product, is an API/SDK that gives institutional platforms like exchanges, market makers, and over-the-counter markets (OTCs) simple and safe deposit capabilities.
Fetcch asserts that it can effectively manage backend settlements by integrating with cross-chain solutions such as LayerZero, Axelar, Wormhole, CCTP from Circle, and CCIP from Chainlink. This eliminates the need for users to navigate the complexities of cross-chain interactions.
The startup says that its platform has integrated with more than 23 wallets, with daily transaction volumes hitting $35,000.