When Wes Schroll went grocery shopping a decade ago as a college student, he realized he cared a lot more about the brands he purchased than which store he was in.
That sparked the idea for Fetch Rewards, a shopping savings app where consumers upload store receipts to earn free rewards from the brands they’ve purchased. Schroll dropped out of the University of Wisconsin-Madison in 2013 to build the company.
Now, amidst breakneck growth during the pandemic, Fetch Rewards is in talks to raise a new Series D round of funding that could more than double the firm’s valuation to about $1.5 billion, two people familiar with the matter said. That makes the Madison-based startup one of only a few “unicorns” — startups valued at over $1 billion — to have a headquarters outside of Silicon Valley or New York.Business Insider