Fetch Rewards, a shopping rewards app backed by SoftBank Group Group's Vision Fund 2, has raised $240 million in a funding round that valued the company at more than $2.5 billion, Chief Executive Officer Wes Schroll told Reuters on Wednesday.

The company positions itself as a one-stop digital loyalty and marketing platform, as it utilizes purchase information to partner with brands and stores.  The platform now has more than 600 partners, including BurgerKing, Unilever and Safeway. The Madison, Wisconsin-based company plans to invest in building out more features and expanding into new markets with a newly-launched Spanish version of the app.  Schroll said the company has no imminent plans of going public.

Softbank-Backed Fetch Rewards Raises $240 Million In Funding Round

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Softbank-Backed Fetch Rewards Raises $240 Million In Funding Round

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