Perfios creates 62 millionaires with ESOP buyback worth Rs 154 Cr
A total of 135 employees, comprising both current and former team members from various departments, across socio-economic backgrounds, have benefitted from the buyback initiative, said the B2B SaaS fintech firm.
B2B SaaS fintech firm has implemented an ESOP (employee stock ownership plan) buyback of equity shares worth Rs 154 crore from its 135 employees, resulting in 62 individuals becoming millionaires.
According to Perfios, 80 of the beneficiaries of the buyback are women employees.
Sabyasachi Goswami, CEO of Perfios, said, in a statement, "It's truly gratifying to see the Perfios Millionaire Club grow and thrive along with the company’s growth. The buyback reaffirms our dedication to fostering a work environment where everyone can excel.”
A total of 135 employees, comprising both current and former team members from various departments, across a wide range of socio-economic backgrounds, have gained membership in the Perfios Millionaire Club via the buyback initiative, said the company.
Some of the longest-serving employees, including those from both core and non-core functions like administrative and data processing, have received a 30-fold increase in their earnings, it said.
V R Govindarajan, Co-Founder & Chairman, said in a statement, “Our goal has always been to create wealth and share wealth and we firmly stand by it. This isn't a new concept for us; it's a practice we've embraced for years."
The company says it promotes a culture of founders' mindset through programmes, hackathons, and ideathons. The firm aims to double its revenue growth by the end of this fiscal year, driven by its efforts to strengthen its presence in MENA and SEA countries, while concurrently expanding into the North American and European markets.
With the recent fundraising of $229 million from Kedaara Capital, Perfios plans to fuel its global expansion plan and invest in new-age technology to enhance its decision analytics SaaS products.
Founded in 2008, Perfios is headquartered in Bengaluru, with offices worldwide. It has over 75 products and platforms and over 500 APIs. It caters to sectors such as banking, financial services, and insurance across 18 countries and over 1,000 financial institutions. Through its software platforms and products, Perfios helps financial institutions with onboarding, decisions, underwriting, and monitoring processes at scale.
Edited by Swetha Kannan