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Fetch Secures $50 Million from Morgan Stanley After Achieving Profitability, Signaling Strong Growth AheadEvolved capital structure and investment in industry-leading talent will accelerate innovation and maximize market share MADISON, Wis., March 20, 2024 /PRNewswire/ -- Fetch, America's Rewards App, has secured $50 million in debt financing 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.
Fetch 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. Fetch 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. "Fetch is transforming the way brands and consumers connect and solving the biggest problems in advertising," said Wes Schroll, CEO & Founder of Fetch. "This financing will allow us to innovate faster and supercharge our ability to bring our platform to more brands and more households." Fetch continues to attract top talent from major tech companies – most recently hiring Sean Han (Chief Accounting Officer), Win Sakdinan (General Manager, Partner Marketing), Marc Bearman (General Manager, Fetch Play), Raj Prazad (SVP, Data Engineering), Aitan Weinberg (SVP, Ads/Media Products), and Daniel Block (VP, Corporate Business Development) – whose previous experience includes Google, Meta, Twitter, Pinterest, Snap, Uber, Roku, Mastercard and other industry giants. With even greater talent investments in 2024, Fetch aims to further cultivate a diverse and skilled workforce capable of driving innovation at the forefront of the technology industry. "We're thrilled to be working with Morgan Stanley Private Credit as Fetch moves into our next phase of maturity," said Gideon Oppenheimer, Fetch CFO. "Through diversifying our capital structure, we can maximize the value we are creating for our users and brand partners." With this strategic financial move, Fetch 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. "We are pleased to be Fetc's financing partner and support the company in its next phase of growth," said Ashwin Krishnan, co-Head of North America Private Credit, Morgan Stanley Investment Management. "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 Fetch, America's Rewards App, empowers consumers to Live Rewarded and helps brands create lifelong customers through the power of Fetch Points. Fetch has sweeping visibility into what consumers buy, capturing more than $152 billion worth of transactions annually using cutting-edge artificial intelligence and machine learning technologies. To date, Fetch users have submitted more than 5 billion receipts and earned nearly $910 million in rewards. The app is available to download on the App Store and Google Play Store and has more than 5 million five-star reviews from happy Fetchers. About Morgan Stanley Private Credit Morgan Stanley Private Credit, part of Morgan Stanley Investment Management, is a private credit platform focused on direct lending and opportunistic private credit investment in North America and Western Europe. The Morgan Stanley Private Credit team invests across the capital structure, including senior secured term loans, unitranche loans, junior debt, structured equity and common equity co-investments. For further information, please visit the website: morganstanley.com/privatecredit. CONTACT: Karlie Fitzgerald, [email protected]
SOURCE Fetch 
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