Latham & Watkins Advises Fetch Rewards on Series of Strategic Growth Financing Transactions

Fetch Rewards, LLC, a technology company and loyalty app that allows consumers to earn points on their purchases, completed a series of financing transactions supporting its continued growth and strategic initiatives: (1) a refinancing of its existing term loan facility with Morgan Stanley Private Credit providing for an upsize in commitments up to US$35 million, taking the total debt facility to US$110 million in the aggregate; (2) a revolving credit facility of up to US$30 million from JPM Morgan Chase Bank, N.A.; and (3) a customer investment flow agreement with General Catalyst, establishing committed investment facility with a maximum aggregate investment amount of up to US$150 million to fund marketing and customer acquisition activities for Fetch customer reward mobile app and credit card business.

Latham & Watkins advised Fetch Rewards in the transactions with a finance team led by partners Haim Zaltzman, Dan Van Fleet, and Loren Finegold, with associates Axel Magnusson, Alex Tiller, and William Lane; and a corporate deal team led by partner Alex Kassai. Advice was also provided on tax matters by partner Eric Cho.