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§ Private Profile · Atlanta, GA, USA
Consumer rewards app and advertising platform offering points for receipts and SKU-level spending data for brands.
Fetch has raised $591.3M across 8 funding rounds.
Key people at Fetch.
Fetch was founded in 2013 by Adam Steinberg (Founder) and Chris Glace (Founder).
Fetch has raised $591.3M in total across 8 funding rounds.
Based in Madison, Wisconsin, Fetch operates a mobile rewards application and outcomes-based advertising platform that allows millions of users to earn redeemable points by scanning receipts while providing brands with targeted consumer spending data. The company tracks approximately $212 billion in annual gross merchandise value across its consumer base, offering SKU-level purchasing visibility to advertisers ranging from emerging challenger companies to established Fortune 500 corporations. To support its expanding consumer loyalty ecosystem and newly launched AI-powered analytics tools, Fetch has grown its operational workforce to 830 employees across multiple regional offices. The enterprise has raised approximately $583 million in cumulative venture funding, achieving a $2.5 billion valuation with financial backing from prominent institutional investors including SoftBank, Iconiq Capital, G Squared, and Hamilton Lane. Fetch was originally founded in 2013 by current chief executive officer Wes Schroll.
Fetch has raised $591.3M across 8 funding rounds. Most recently, it raised $50.0M Debt in March 2024.
Fetch is a self-service truck rental marketplace that enables renters to instantly rent trucks from local owners via a mobile app, bypassing traditional rental lines. It offers flexible rental durations—hourly, daily, or weekly—and allows truck owners to earn passive income by listing their vehicles without upfront fees. Fetch serves both individual renters needing trucks for moving or deliveries and truck owners seeking to monetize their vehicles. The platform’s mission is to make transportation effortless by providing instant access to trucks 24/7, supported by investors like Y Combinator and Avis Budget Group. It has expanded its vehicle offerings to include larger box trucks up to 16 feet, enhancing options for customers and revenue opportunities for owners[1][2][3].
Founded by Adam Steinberg and Chris Glace, Fetch launched in 2015 in Atlanta, initially owning its fleet but later evolving into a peer-to-peer marketplace where anyone with a suitable truck can list it for rental. The idea emerged to simplify truck rentals by eliminating wait times and cumbersome paperwork typical of traditional rental companies. Early traction included rapid city expansions beyond Atlanta to Baltimore, Philadelphia, Dallas, and Washington, D.C., and partnerships with retailers like Home Depot to power their rental processes. Despite growth, Fetch faced challenges leading to its shutdown in late 2023, triggered by the loss of a major partner and reluctance among private owners to offer same-day rentals, which had been a significant revenue source[2][3][4].
Fetch capitalized on the growing trend of on-demand, peer-to-peer sharing economy platforms, applying it to truck rentals—a traditionally cumbersome and fragmented market. The timing aligned with increasing consumer demand for flexible, contactless rental solutions and the rise of gig economy logistics needs. Market forces such as urbanization, e-commerce growth, and the need for last-mile delivery solutions favored Fetch’s model. By enabling vehicle owners to monetize idle assets and providing renters instant access to trucks, Fetch influenced the broader ecosystem by demonstrating how digital platforms can disrupt traditional vehicle rental industries and empower micro-entrepreneurs[1][2][4].
Although Fetch showed strong growth and innovation in self-service truck rentals, its closure in late 2023 highlights the challenges of scaling peer-to-peer vehicle rental marketplaces, especially reliance on key partners and owner participation. Future trends shaping this space include increased integration of IoT for vehicle access, enhanced insurance solutions, and expansion into commercial logistics. Companies that can balance owner incentives, customer convenience, and operational reliability will likely lead. The Fetch story underscores the potential and pitfalls of marketplace models in transportation, offering lessons for future ventures aiming to digitize asset sharing in logistics. If revived or succeeded by similar platforms, the concept of instant, app-based truck rentals remains a compelling solution for modern urban mobility and delivery needs[4][2].
Key people at Fetch.
Fetch was founded in 2013 by Adam Steinberg (Founder) and Chris Glace (Founder).
Fetch has raised $591.3M in total across 8 funding rounds.
Fetch's investors include Ashwin Krishnan, AirTree Ventures, Jeffrey Armbrister, Archer Venture Capital, DST Global, Gaingels, Greycroft, Headline, ICONIQ Growth, Kristofer Ewing, Tom Cheung, TelevisaUnivision.
