January 18, 2024

Web3 Startup Fetcch Raises $1.5 Mln in Pre-seed Funding Round

Fetcch

Fetcch

Fetcch, a platform that provides infrastructure for digital payments and rewards, has successfully completed its pre-seed funding round by raising $1.5 million.

The round was led by AppWorks Venture and Hashkey Capital, with participation from Compute Ventures, LD Capital, GravityX Capital, M6, and NGC. The company plans to use the funds to focus on product development, expand into the Web3 sector, and build Web2.5 use cases.

Fetch was founded in May 2023 by Mandar Dange and Satyam Kulkarni with the aim of providing an infrastructure for digital payments and rewards platforms, particularly for the Web3 payments ecosystem. The company’s special focus is on cross-chain payments.

Fetcch offers an API/SDK called “Deposit Guardrails” for enterprises. This product provides institutional platforms like the Counter Market (OTCs), market makers, and exchanges with secure and easy deposit functions.

Furthermore, Fetcch has integrated with cross-chain solutions like LayerZero, Axelar, Wormhole, CCTP from Circle, and CCIP from Chainlink. By doing so, the startup claims to efficiently manage backend settlements, thereby eliminating the need for users to navigate the complexities of cross-chain interactions.

According to Fetcch, they have integrated with over 23 wallets, resulting in daily transaction volumes reaching $35K through their platform.

Fetcch was recently selected for Graviton, a Web3-focused accelerator for emerging markets. With firms in the crypto space in India anticipating significant growth in real-world use cases, particularly in the payments sector, Fetcch aims to capitalize on this momentum.

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