Fetch, provider of a rewards app secures $50million in debt funding from Morgan Stanley Private Credit. This infusion of capital will prime Fetch for another year of aggressive growth as the now-profitable company accelerates its journey to become the world’s first rewards-for-everything platform.
It achieved profitability in Q4’23 as the company has continued to grow at a rapid rate despite challenging economic conditions, a milestone that shows the value Fetch is providing to brand partners and users on the platform.
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It will leverage this funding to expand its business on four axes: product innovation to enhance the user experience and partner success; further development in the platform’s proprietary A.I. and machine learning technologies; investment in growing the app’s user base; and hiring top talent to shepherd this next phase of hypergrowth.
Wes Schroll, CEO & Founder of Fetch said, “It is transforming the way brands and consumers connect and solving the biggest problems in advertising, This financing will allow us to innovate faster and supercharge our ability to bring our platform to more brands and more households.”
Gideon Oppenheimer, Fetch CFO said, “We’re thrilled to be working with Morgan Stanley Private Credit as Fetch moves into our next phase of maturity, Through diversifying our capital structure, we can maximize the value we are creating for our users and brand partners.”
With this strategic financial move, it is setting the stage for continued expansion as the company continues to rapidly scale its product offerings and develop its network of brand partners across CPG, restaurant and retail verticals.
Ashwin Krishnan, co-Head of North America Private Credit, Morgan Stanley Investment Management said, “We are pleased to be Fetch’s financing partner and support the company in its next phase of growth, This senior debt investment is an example of our ability to provide a flexible capital solution tailored to meet Fetch’s needs in the current operating environment.”
Morgan Stanley Private Credit’s investment in Fetch was led by Executive Director Griffin Coakley. Armentum Partners served as Fetch’s advisor in the transaction.
About Fetch
The top platform for engaging consumers in America is called Fetch, which pays customers to purchase the goods they adore. Users can save the most on regular purchases by just scanning their receipts with the Fetch app.
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The platform gives their brand partners a comprehensive understanding of consumers’ purchasing behaviors and enables them to appropriately recognize and reward each customer’s unique loyalty.
