Fetch Rewards is now equivalent to the nation’s seventh-largest retailer for annualized gross merchandise value (GMV), surpassing $100 billion flowing through its platform, the company announced today.
“When we dug into the types of receipts shoppers were trying to submit to Fetch, we were astounded at the growing velocity within other retail categories,” Fetch Rewards CEO Wes Schroll said in a statement. “So we opened it up so our users could submit any receipt. We’re now seeing substantial growth in all retail categories and expect that to become a much larger percentage of our business and value to our shoppers.”
According to a release, with 208% year-over-year growth of annualized GMV, the company is on pace to crack the top 3 retailer-equivalent mark within 12 months, joining Amazon and Walmart.
The app has more than 11 million monthly active users.