Fetcch Raises $1.5M in Funding Round Led by AppWorks Venture and Hashkey Capital
- ByStartupStory | January 17, 2024
Fetcch, a Web3 and digital rewards app, has secured $1.5 million in a funding round led by AppWorks Venture and Hashkey Capital. Other participants in the round include LD Capital, Compute Ventures, M6 and GravityX Capital, and NGC. The funding will be utilized for product development in the Web3 space and to expand the platform’s Web2.5 use cases.
Founded in May last year by Mandar Dange and Satyam Kulkarni, Fetcch serves as an infrastructure platform for digital payments and rewards, utilizing blockchain technology for real-time settlements. Within the Web3 domain, the company has developed capabilities for pull payments, enabling features like recurring payments that do not require initiation by the payer.
CEO and Co-founder Mandar Dange expressed enthusiasm about the funding, stating, “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.”
Fetcch was recently selected for Graviton, a Web3-focused accelerator for emerging markets. With firms in the crypto space in India anticipating significant growth in real-world use cases, particularly in the payments sector, Fetcch aims to capitalize on this momentum.
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