In a recent development, Fetcch, the pioneering web3 payments and digital rewards infrastructure platform, has successfully raised $1.5 million in its pre-seed funding round. The investment was spearheaded by AppWorks Venture and Hashkey Capital, with additional support from prominent backers, including LD Capital, Compute Ventures, M6, GravityX Capital, and NGC.
Fetcch, co-founded by Mandar Dange and Satyam Kulkarni in May 2023, specializes in providing a robust infrastructure for digital payments and rewards platforms, explicitly emphasising the burgeoning Web3 payments ecosystem. The startup has articulated plans to allocate the raised funds towards strategic product development initiatives and a decisive expansion within the Web3 sector, concurrently focusing on use cases within the Web2.5 landscape.
At the core of Fetcch’s offerings is the enterprise-centric product Deposit Guardrails. As an API/SDK, Deposit Guardrails ensures secure and seamless deposit functionalities for institutional platforms such as Over-the-counter markets (OTCs), market makers, and exchanges. The platform distinguishes itself by catering to cross-chain payments, a critical aspect in the evolving digital payments landscape.
Fetcch’s innovative approach integrates various cross-chain solutions, including LayerZero, Axelar, Wormhole, CCTP from Circle, and CCIP from Chainlink. The startup asserts its ability to manage backend settlements efficiently through these integrations, streamlining the complex processes associated with cross-chain interactions. This, in turn, eliminates the need for users to grapple with the intricacies of such transactions.
Notably, Fetcch proudly announces successful integration with more than 23 wallets, facilitating daily transaction volumes that have surged to an impressive $35,000. The startup’s commitment to enhancing the user experience and simplifying cross-chain payments positions it as a noteworthy player in the rapidly evolving digital payments ecosystem.
As Fetcch continues to chart its course in the fintech landscape, the recent injection of capital is expected to propel the startup towards achieving its ambitious goals in both Web3 and Web2.5 realms, solidifying its position as an innovative force in the industry.
