Fetcch, a web3 payments and digital rewards infrastructure platform, has raised $1.5 million in its pre-seed round led by AppWorks Venture and Hashkey Capital with participation from LD Capital, Compute Ventures, M6 and GravityX Capital, NGC.
According to Fetcch, the funds will be used to focus on product development and expand in the Web3 sector while simultaneously building for Web2.5 use cases.
Founded in May 2023 by Mandar Dange and Satyam Kulkarni, Fetcch provides an infrastructure for digital payments and rewards platforms especially for the Web3 payments ecosystem with a particular focus on cross-chain payments.
Its 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 and exchanges.
By integrating with cross-chain solutions like LayerZero, Axelar, Wormhole, CCTP from Circle, and CCIP from Chainlink, Fetcch claims to efficiently manage backend settlements, eliminating users’ need to navigate the intricacies of cross-chain interactions.
The startup claims to have integrated with over 23 wallets clocking daily transaction volumes reaching $35K through its platform.