Fetcch, a startup specializing in web3 payments and digital rewards, has raised $1.5 million in a pre-seed funding round led by AppWorks Venture and Hashkey Capital, with participation from LD Capital, Compute Ventures, M6, GravityX Capital, and NGC.
Expanding in the Web3 sector
According to the company's statement, The raised capital product development, with a focus on expanding in the Web3 sector. Additionally, Fetcch plans to build Web2.5 use cases, indicating a strategic approach to bridge current and emerging technologies.
What does Fetcch do?
Founded in May 2023 by Mandar Dange and Satyam Kulkarni, Fetcch aims to revolutionize the digital payments and rewards infrastructure. The startup focuses on the Web3 payments ecosystem, particularly in facilitating cross-chain payments.
What does it offer?
Fetcch's notable product, Deposit Guardrails, is an API/SDK designed for institutional platforms like Over the Counter Market (OTCs), market makers, and exchanges.
The startup said that its product ensures secure and easy deposit functions. By integrating with cross-chain solutions like LayerZero, Axelar, Wormhole, CCTP from Circle, and CCIP from Chainlink, Fetcch simplifies backend settlements and enhances user experience in managing cross-chain interactions.
It claims to have achieved significant traction, integrating with over 23 wallets and recording daily transaction volumes of around $35,000.
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