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[Funding alert] Web3 Platform Fetcch Secures $1.5 Mn in Funding Led by AppWorks Venture

By Viestories
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A pre-seed fundraising round led by AppWorks Venture and Hashkey Capital secured $1.5 million for Fetcch, a Web3 pull payments infrastructure firm. Among others, LD Capital, Compute Ventures, M6, and GravityX Capital participated in the round.
Satyam Kulkarni and Mandar Dange, co-founders of Fetcch

A pre-seed fundraising round led by AppWorks Venture and Hashkey Capital secured $1.5 million for Fetcch, a Web3 pull payments infrastructure firm. Among others, LD Capital, Compute Ventures, M6, and GravityX Capital participated in the round.

The business intends to generate Web2.5 cases while concentrating on developing products and growing in the Web3 market with the help of further funding.

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"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,” Mandar Dange, CEO and co-founder of Fetcch said in a statement.

Fetcch pioneered Web3 pull payments, enabling repeating payments without payer action. Fetcch is building a network of wallets, DApps, merchants, and identities to revolutionise the Web3 economy and serve Web2 enterprises by streamlining payments.

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Stanley Wu, Investing Partner, Hashkey Capital said, “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 will support the company in improving crypto payments products, creating a next-level user experience that can be conducive to mass adoption.”

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.

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Bill Hsu, Investing Partner, AppWorks Venture said, “We believe that Fetcch is at the forefront of Web3 payments innovation. Their vision aligns perfectly with the rapidly evolving blockchain landscape, and we're excited to support their journey towards reshaping the digital payment industry."

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 for Web2.5 use cases.

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About Fetcch

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.