Rewards app company Fetch announced it has raised $50 million in debt financing from Morgan Stanley Private Credit. This funding will enable Fetch to pursue another year of aggressive growth as a now-profitable company.
Fetch will utilize this funding to expand its business on four axes: 1.) Product innovation to enhance the user experience and partner success 2.) Further development in the platform’s proprietary A.I. and machine learning technologies 3.) Investment in growing the app’s user base 4.) Hiring top talent to shepherd this next phase of hypergrowth.
Fetch is continuing 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). With even greater talent investments this year, Fetch aims to cultivate a diverse and skilled workforce capable of driving innovation at the forefront of the technology industry.
Executive Director Griffin Coakley led Morgan Stanley Private Credit’s investment in Fetch. And Armentum Partners served as Fetch’s advisor in the transaction.
KEY QUOTES:
“Fetch 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.”
– Wes Schroll, CEO & Founder of Fetch
“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.”
– Gideon Oppenheimer, Fetch CFO
“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.”
– Ashwin Krishnan, co-head of North America Private Credit, Morgan Stanley Investment Management
