Razorpay ESOPs: Fintech unicorn RazorPay completed ten years and on this occasion the employees got a big gift from the company. Razorpay, invested by American venture capital company Y Combinator, has announced to distribute Employee Stock Ownership Plans (ESOPs) worth Rs 1 lakh to all its existing employees. It has more than 3 thousand employees who are internally called Razors. The announcement of Razorpay is to ensure that employees who previously did not have an ESOP can now participate in the company’s future success.
Razorpay was started in 2014
Razorpay, formed in the year 2014, has expanded significantly in ten years. From a single-product payment gateway, it has now become a multi-product platform whose annualized total payment volume (TPV) has reached 18 thousand crore dollars. It provides payment services to 80 out of 100 unicorns in the country and has more than 30 crore end consumers. Its portfolio has more than 40 products to address payments, banking and financial technology needs.
Companies give rewards to employees through ESOP
This year, in the year 2024, Swiggy had announced ESOP of $ 65 million and Urban Company had announced ESOP of $ 25 million. Now Razorpay has also announced this. It has become an important tool for creating wealth in the Indian startup ecosystem. Talking about Razorpay, it has given a lot of gifts to its employees through ESOP. For the first time in the year 2018, it had bought back it and 140 employees got the opportunity to earn profits. After this, there was a buyback of $75 million in the year 2022, which benefited 650 current and former employees.
