Morgan Stanley Private Credit has led an additional senior debt financing round for Fetch, increasing the company’s existing debt facility to a total of $110 million. The original financing from Morgan Stanley Private Credit was provided in March 2024.
Fetch is expanding into new market sectors as it aims to become a universal rewards platform. The latest investment is expected to support product innovation, further development of the platform’s artificial intelligence and machine learning capabilities, and growth in its user base.
Gideon Oppenheimer, Chief Financial Officer at Fetch, stated: “We value Morgan Stanley Private Credit’s partnership as we continue to grow. With this investment, we are setting the stage for ongoing expansion as we rapidly scale our new product offerings and further develop our network of brand partners.”
Ashwin Krishnan, Head of North America Private Credit at Morgan Stanley Investment Management, commented: “We are pleased with the growth Fetch has achieved since our initial financing last year. This financing underscores our conviction in Fetch’s compelling customer proposition.”
Fetch enables consumers to earn rewards and assists brands in building customer loyalty through its points system. The app processes billions of spending transactions annually using AI and machine learning technology. Users submit about 11 million receipts daily and have collectively earned over $1 billion in points. Fetch is available on both the App Store and Google Play Store, with more than 5 million five-star reviews.
Morgan Stanley Private Credit operates within North America and Western Europe, investing across various segments such as senior secured term loans, unitranche loans, junior debt, structured equity, and common equity co-investments. More information can be found on their website: https://www.morganstanley.com/im/private-credit
Morgan Stanley Investment Management oversees $1.7 trillion in assets as of June 30, 2025, serving a broad range of clients globally. Details about their services are available at https://www.morganstanley.com/im