January 25, 2021

Retail rewards platform Fetch raises $80m in venture funding

Retail payments firm Fetch Rewards has secured $80 million in venture funding, according to a filing with the US Securities and Exchange Commission (SEC).

Fetch has raised $131 million in eight years

The Delaware-based firm allows users to scan their grocery receipts, upload codes, and save money on future purchases.

Fetch says in its filing it will put the $80 million towards working capital and general corporate purposes. Seven investors participated in the round, though none are named. The funding round places its total valuation at around $600 million.

Fetch has raised $131.5 million across seven rounds since its creation in 2013. Its previous funding round was an October 2019 venture worth $25 million.

The firm’s lead investors have historically included e.ventures, Greycroft, and Loeb Enterprises.

Fetch claims to employ more than 110 people across its Madison HQ, Chicago, San Francisco, and New York City.

The firm reported a growth of 3,160% between 2016 and 2019.

Related: Klarna raises $650m funding at $10.6bn valuation