SoftBank-Backed Fetch Boosts Private Loan from Morgan Stanley

Rewards startup Fetch increased the size of its credit facility with Morgan Stanley’s private credit arm by roughly 30% to $110 million as it prepares to launch a new platform and push deeper into artificial intelligence.

The SoftBank Group Corp.-backed company, which rewards consumers with gift cards in exchange for their spending data, will use the incremental funds to expand into new verticals and build proprietary AI tools, according to a statement seen by Bloomberg.