Fetch Rewards Receives $500K Loan

by Taylor Kennedy

The Wisconsin Economic Development Corporation has awarded a $500,000 loan from its Technology Development Loan Program to Fetch Rewards, an app that helps simplify grocery shopping, the organization recently announced.

According to a release, the money will be used to help facilitate commercialization of the technology, with the hope of eventually creating up to 190 new jobs.

“We all share a vision for leaving our mark on the brick-and-mortar industry,” Fetch Rewards CEO Wes Schroll said in a statement. “This support from WEDC will help us continue to pursue this goal and build a big company right here in Madison.”

The app is currently used in 10 test stores, with the company looking to develop partnerships with around 150 new retail stores this year, it announced.