BENGALURU: Fintech major Razorpay is awarding employee stock option plans (ESOPs) worth Rs 1 lakh to all its current employees as part of its 10 years celebration. For many employees, this marks their first-ever ESOP allocation.
ESOPs have long been a valuable means of wealth creation in the start-up ecosystem. Razorpay said it believes that employees are the driving force behind its growth, and ESOP allocations show appreciation for their contributions.
Its first ESOP buyback was in 2018, and that enabled 140 employees to liquidate their vested shares. In 2022, the $75 million ESOP buyback benefitted 650 existing and former employees.
Over the past decade, it has grown exponentially, and has reached over 300 million end consumers across the country. With an annualised payment volume (TPV) of $180 billion, Razorpay has launched over 40 products every year. The fintech major powers payments for 80 of the country’s 100 unicorns.
Harshil Mathur, co-founder & CEO of Razorpay, said, “Back in 2014, when we started Razorpay, we didn’t think of it as a start-up, it was a massive customer problem we wanted to fix - the complexity of integrating payment systems intrigued us. That’s been the common denominator till now.”