# Merit Incentives funding: rounds and investors

> Merit Incentives has raised $28M across 1 round since 2025. Investors include Endeavor Catalyst and Oryx Fund. Every round with its source.

Source: https://millionrounds.com/company/merit-incentives (Millionrounds; every figure on the page links to its filing or article)

[Series B startup](https://millionrounds.com/companies)

# Who invested in *Merit Incentives*

One round we have observed, with the 2 investors named in it. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

HR Tech

Funding summary Updated 26 Oct 2026

**$28M** raised across 1 round since 2025, from 1 source

- **Latest round:** Series B, $28M Feb 2025
- **Investors:** 2

See who backed them

## The rounds

- **Feb 2025** Series B **$28M** [Endeavor Catalyst](https://millionrounds.com/fund/endeavor-catalyst) [Oryx Fund](https://millionrounds.com/fund/oryx-fund) Source recorded

## Founders and team

From Merit Incentives's own website: 8 on the team.

- **Fred Barry** Chief Product and Growth Officer
- **Marta Babiano** Chief Legal Officer
- **Rajaa Khoder** Chief Financial Officer
- **Thrishan Padayachi** Chief Technology Officer
- **Waleed Al-Jasser** Chief Operating Officer
- **Mark McCowan** Managing Director
- **Paul Butler** Director Finance & Systems
- **Raphael Mostafa** General Manager

## Everyone who backed them

[Endeavor Catalyst](https://millionrounds.com/fund/endeavor-catalyst) Corporate VC **1** round

[Oryx Fund](https://millionrounds.com/fund/oryx-fund) VC firm **1** round

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=merit-incentives).

## Also claim to have backed them

These 3 firms list Merit Incentives as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above.

[Hambro Perks](https://millionrounds.com/fund/hambro-perks) VC firm Per its own site

[Key Capital](https://millionrounds.com/fund/key-capital) VC firm Per its own site

[Cedar Mundi Ventures](https://millionrounds.com/fund/cedar-mundi-ventures) VC firm Per its own site

## Quick answers about Merit Incentives

### Who invested in Merit Incentives?

Merit Incentives's investors include Endeavor Catalyst and Oryx Fund.

### How much has Merit Incentives raised?

Merit Incentives has raised $28M across 1 round since 2025.

### When did Merit Incentives last raise?

Merit Incentives's most recent round was a Series B of $28M in Feb 2025.

### What was Merit Incentives's biggest round?

Its most recent round, $28M in Feb 2025, is also its largest on record.

### Who backed Merit Incentives first?

Merit Incentives's first round on record, in Feb 2025, was backed by Endeavor Catalyst and Oryx Fund.

### What stage is Merit Incentives at?

Merit Incentives's latest named round is a Series B, in Feb 2025.

## Companies like Merit Incentives

In the same sector, and raised in the last eighteen months.

[**Qureos** $5.0M · Feb 2026](https://millionrounds.com/company/qureos)[**Compa** $35M · Jan 2026](https://millionrounds.com/company/compa)[**ExtraMile Play** $500K · Jan 2026](https://millionrounds.com/company/extramile-play)[**Third Bracket** $900K · Nov 2025](https://millionrounds.com/company/third-bracket)[**BrioHR** $6.5M · May 2025](https://millionrounds.com/company/briohr)[**VIVA Finance** $370M · Oct 2026](https://millionrounds.com/company/viva-finance)

## Find investors like these

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