R-Labs, a female-led blockchain-based fintech company, has announced that it managed to raise more than $5 million in a preseed funding round. The Austin, Texas-based financial technology company describes itself as a values-based company building a social impact ecosystem in Web3. R-Labs was cofounded by Geeta Sankappanavar and former Bumble VP of Marketing Chelsea Cain Maclin in early 2022.

The startup is looking to leverage the blockchain technology behind the cryptocurrency industry to develop and market digital assets in the controversial metaverse. This preseeding round was led by a variety of major investors including Prodege, AGF and…

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