Fetch Rewards fetches WEDC loan, 190 new jobs
MADISON, Wis. — Fetch Rewards, a Madison startup company, has developed an app that streamlines and simplifies grocery shopping. The company has received a $500,000 loan from the Wisconsin Economic Development Corporation to help support the growing business.
The Technology Development Loan will be used to help Fetch facilitate the commercialization of its innovative technology, an effort that ultimately could create up to 190 new jobs.
Founded in 2013 by a student at the University of Wisconsin-Madison, Fetch’s mission is to reinvent the way people grocery shop by improving the convenience and efficiency of the customer experience. After downloading the free app, customers can scan the items they wish to purchase with their phones as they shop. The process eliminates the needless time and energy required to remove items from a cart, scan them and place them back in the cart during the check-out process. Participating stores have numerous checkout lanes that accept Fetch and some even have dedicated Fetch checkout lanes.
The app, available on the Apple App Store and Google Play, is now being used in 10 test stores, and Fetch plans to develop partnerships with about 150 new retail stores in 2015. The funding being provided by WEDC will assist with research and development costs associated with the expansion.
Source: WEDC press release