Fetch has become one of the nation’s leading consumer rewards platforms.
What started as a college student’s search for a simpler rewards experience has grown into a successful technology company. Madison-based Fetch has transformed the way consumers earn shopping rewards, building a platform now used by millions of people nationwide while helping position Wisconsin as a growing hub for tech innovation.
The idea for Fetch started in 2013, when Wes Schroll was a student at the University of Wisconsin-Madison looking for a simpler way to earn rewards from favorite brands and retailers. Instead of clipping coupons or carrying multiple loyalty cards, Schroll envisioned a more seamless experience powered by mobile technology.
Together with fellow UW-Madison student Tyler Kennedy, Schroll developed a platform that allows consumers to scan receipts from participating stores and automatically earn points on purchases. Those points can then be redeemed for rewards, creating a simpler and more flexible alternative to traditional loyalty programs.
Leveraging support
Early support from Wisconsin’s entrepreneurial ecosystem helped bring the idea to life. The company secured $150,000 through campus business competition winnings, received a $500,000 Technology Development Loan from WEDC, and earned Qualified New Business Venture certification, which helped attract early-stage investment.
Over the past decade, Fetch has expanded into one of the leading consumer rewards platforms in the country. The company now partners with major national brands and retailers including Amazon, Home Depot, L’Oréal, and Guinness.
Fetch’s rapid growth has also attracted substantial investor interest. The company has raised nearly $700 million in combined equity and debt financing, helping propel its valuation to approximately $2.9 billion.
Continued growth
Today, more than 12.5 million users actively use the app, and the platform continues to gain national recognition. This year, Fetch aired its first Super Bowl advertisement, introduced the Fetch American Express® credit card, and announced the upcoming beta launch of FAST (Fetch AI Semantic Technology), a new AI-powered tool designed to help companies analyze shopping behavior and identify consumer trends.
Fetch’s success story reflects the strength of Wisconsin’s innovation ecosystem, from university entrepreneurship programs and startup competitions to early-stage financing and statewide business support. What began as a student startup in Madison has evolved into a nationally recognized technology platform, demonstrating how Wisconsin entrepreneurs can scale bold ideas into industry-leading companies.
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