GSD Labs Portfolio Company Xoxoday gets $30 Million in funding to Reinvent Incentives & Rewards

Derek Distenfield
3 min readMar 24, 2022


GSD Venture Studios is thrilled to announce a recent 30 million dollar investment in Xoxoday, a GSD Labs portfolio company in the fintech space.

This institutional first round of funding comes from Giift, the leading provider of loyalty management solutions. Backed by Apis Growth Fund II, they support growth-stage financial services and financial infrastructure businesses by providing them with catalytic growth equity capital.

Expressing his heartfelt gratitude for being a part of the GSD Labs accelerator, co-founder of Xoxoday, Manoj Agarwal, states:

“GSD Labs has played an important role in the growth of Xoxoday. We made great connections and built relationships with like-minded founders, advisors, and investors through the accelerator. GSD Labs also taught us that Silicon Valley is not just a geographical location but a mindset. We are thrilled for the opportunity of working with them to learn how to #GoGlobal.” — Manoj Agarwal, Cofounder of Xoxoday.

Xoxoday is a full-stack embedded solution providing technology infrastructure to enable businesses to automate rewards, incentives, and payouts across the value chain. The founders of Xoxoday are pioneers in the rewards, incentives, and payouts space. They began their entrepreneurial journey to solve the problem of human motivation with technology. With three tailored SaaS offerings (Plum, Empuls, and Compass), Xoxoday’s offerings are designed to automate incentives, align teams and build an engaged workplace. Xoxoday intends to use the 30 million in funding to expand further into international markets and upgrade the technology infrastructure they need to serve their next set of billion users.

Gary Fowler, CEO, GSD Venture Studios says, “A huge congratulation to Manoj Agarwal, Sumit Khandelwal, and the rest of the team. This is a monumental milestone for Xoxoday, and we know this investment will only accelerate the great things they’ve already achieved.”

The US rewards, incentives, and payouts industry is still primarily powered by manual and legacy systems with a fragmented approach, and it is expected to grow to 1.9 trillion by 2027. With their recent investment, Xoxoday will capitalize on this growth with their digital, tailored solutions and be a leader in this space.

Derek Distenfield, COO, GSD Venture Studios added, “We couldn’t be more proud to see the hard work Xoxoday put in throughout the accelerator to the present day. They’ve disrupted the market and are ready to #GoGlobal.”

About GSD Venture Studios:
We travel the world investing in resilient teams bold enough to #GoGlobal.
For too long, self-motivated entrepreneurs have navigated the minefield of challenges to launching a global company with very little support. The last thing you should bet on in this situation is an unproven team that you don’t trust. GSD Venture Studios travels to every corner of the globe inviting resilient teams to establish partnerships that ensure organizations grow the right way, without games or gimmicks. You can learn more about GSD Ventures Studios here:

About Derek Distenfield:
Known for both bringing revolutionary new ideas to organizations that deliver explosive growth and for displaying a high tolerance for ambiguity and complexity. For over 15 years, Derek has blazed high impact careers in startups, corporations, governments, and nonprofit organizations that range from $0 to $2 billion.
He is the operational mastermind, COO and Co-founder behind the success of GSD Venture Studios. Derek brings a variety of resources together to deliver explosive growth for GSD’s portfolio companies. Additionally, he lectures on startup growth at leading universities and writes for Analytic Insight Magazine honored Derek as a 40 under 40 Innovator for his work in redefining the future of tech through cutting edge innovation. called Derek as one of 2020s most influential people.
Derek is a frequent keynote speaker, advisor, and mentor. Silicon Valley is home, and he travels the world frequently to work with GSD’s portfolio companies.
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Derek Distenfield

Derek Distenfield is an investor, operational mastermind, frequent keynote speaker, advisor, and mentor based in Charlotte, GA.