Morgan Stanley Investment Management has announced that Fetch, a rewards app, has secured $50 million in debt financing from investment funds managed by Morgan Stanley Private Credit. The funding is intended to facilitate Fetch's expansion plans as it seeks to broaden its business operations.

Fetch intends to use the acquired financing to drive its business expansion. This will be achieved through investing in product innovation to enhance user experience and partner success, advancing its proprietary artificial intelligence (AI) and machine learning technologies, expanding its user base, and recruiting talent. According to a press release by Morgan Stanley Investment Management, Fetch serves as a platform for brands to cultivate lifelong customer relationships by leveraging Fetch Points. The company possesses extensive consumer purchasing data, with over $152 billion worth of transactions annually.

Gideon Oppenheimer, Fetch's Chief Financial Officer (CFO), expressed his excitement about the partnership with Morgan Stanley Private Credit. "We’re thrilled to be working with Morgan Stanley Private Credit as Fetch moves into our next phase of maturity," said Oppenheimer. "Through diversifying our capital structure, we can maximize the value we are creating for our users and brand partners."

Ashwin Krishnan, co-head of North America private credit at Morgan Stanley Investment Management, echoed this sentiment. Krishnan said: "We are pleased to be Fetch’s financing partner and support the company in its next phase of growth. This senior debt investment underscores our capability to provide a flexible capital solution tailored to meet Fetch’s needs in the current operating environment."

Morgan Stanley Investment Management has been operating for over 45 years and provides various specialized solutions to global clients. With the support of Morgan Stanley's resources, it offers high-conviction equities, active fixed income, liquidity offerings, alternative investments such as private equity and hedge funds, and custom solutions designed to cater to clients' needs for enhanced control over investments and taxes.