It was felt the team, ranked fifth in the world, was not a credible medal challenger for the Tokyo Paralympics.
"Since London we have made massive progress and I believe we are good enough to medal in Tokyo," vice-captain Gavin Walker told BBC Radio 5 live.
It follows a similar campaign by fencing, which also lost its funding.
Wheelchair rugby has been awarded more than £6.3m over the last three Paralympic cycles and while Great Britain have won golds at European level over this time, they have never won a World Championship or Paralympic medal of any colour.
Great Britain Wheelchair Rugby has launched a fundraising campaign after losing its appeal against the removal of UK Sport funding.