Employees New Year Gift: The company is offering Employee Ownership Plan (ESOP) worth Rs 1 lakh to all its existing employees to mark the completion of a decade of its operations.
Fintech unicorn Razorpay has given a New Year gift even before the year 2025. The company on Tuesday announced that it is offering Employee Ownership Plan (ESOP) worth Rs 1 lakh to all its existing employees to mark the completion of a decade of its operations.
More than 3,000 employees will benefit
According to a Business Standard report, the Bengaluru-based company currently has more than 3,000 employees. That means the total ESOP value is more than Rs 30 crore. This announcement has been made two years after the company announced an ESOP buyback worth $75 million for 650 employees. ESOP means the company’s shares given to employees, which can be redeemed at a fixed price after a certain period.
The payments fintech is currently in the process of reverse flipping from the United States (US) to India. The firm expects to complete the domicile shift in 2025 and plans to enter the stock market around 2027 and 2028.
The company processes payments for 80% of unicorns
Harshil Mathur, co-founder and CEO of Razorpay, said, “The ESOP initiative is our way of ensuring that every team member shares in the success as we continue to innovate, simplify money movement, and create even more value for businesses in India and beyond.” The firm claims to process payments for 80 out of 100 unicorns in the country.
Steps taken to recognize and reward hard work
Shashank Kumar, Co-Founder and Managing Director, Razorpay, said, “It is this culture of long-term thinking and value creation that drives us to recognise and reward our team’s hard work through initiatives such as offering ESOPs to all employees. The next chapter holds even more promise, and I look forward to building it together with our Razors.” Razorpay was founded in 2014. Currently, the firm has an annual total payment volume (TPV) of $180 billion.
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