Fetcch raises $1.5m in Pre-Seed round to boost Web3 Payments infrastructure
By Gloria Mathias
Fetcch, a Web3 payments and digital rewards infrastructure platform has raised $1.5 million 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 Web2.5 use cases.
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. Furthermore, Fetcch has introduced a unified identity to seamlessly facilitate cross-chain, peer-to-peer (P2P), and business-to-consumer (B2C) payments.
To streamline the whole payments process, Fetcch is creating a network of wallets, decentralised applications (DApps), merchants, and identities to revolutionise the Web3 ecosystem, eventually catering to Web2 businesses.
Mandar Denge, 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 shared, “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 and will support the company in improving crypto payment products, creating a next-level user experience that can be conducive to mass adoption.”
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