How Fetch Rewards Makes Money

Fetch Rewards is a shopping platform that enables users to earn rewards in exchange for scans of their receipts.

Customers can earn extra cash when shopping at 500+ popular brands including Home Depot, Pepsi, and Starbucks.  

Earned points can be exchanged for gift cards at participating stores such as Amazon. Alternatively, they can be donated to charities.

Founder and CEO Wes Schroll dropped out of college to launch Fetch Rewards. Initially, users had to scan the barcode of each item they bought. 

In 2017, he pivoted the business away from manual barcode entries towards automatic image recognition, leading to an explosion in user numbers. 

Schroll has since raised over $580 million for Fetch Rewards, which is currently valued at $2.5 billion. 

But how is Fetch Rewards able to hand out such generous rewards at no cost to the user?

Fetch Rewards receives a small commission for promoting the brands on its platform. Those are paid whenever a receipt is scanned. 

The brand partners benefit from additional exposure, better tracking of their spend, and increased customer loyalty. 

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