Razorpay marks decade milestone with ESOPs worth Rs 1 lakh to all employees
The firm has monetized its success by offering value to its employees, from its first ESOP buyback in 2018 to a $75 million buyback in 2022.
Digital payments and banking solutions unicorn has extended ESOPs worth Rs 1 lakh to all current employees, marking its 10-year journey.
This is the latest in a series of ESOP initiatives by the company, from its first buyback in 2018, which allowed 140 employees to liquidate their vested shares, to a $75 million buyback in 2022 benefiting 650 current and former employees.
"Back in 2014, when we started Razorpay, we didn’t think of it as a startup, 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. I believe our customer-centric vision is what has transformed us from a simple idea of making payments seamless into a platform that is empowering the dreams of millions of businesses across India today.,” Harshil Mathur, Co-founder and CEO of Razorpay, said.
He added, “The ESOP initiative is our way of ensuring every teammate shares in the success as we continue to innovate, simplify money movement, and create even greater value for businesses in India and beyond."
Razorpay, founded in 2014 by IIT Roorkee alumni Shashank Kumar and Harshil Mathur, is an omnichannel payments and banking platform that provides innovative, technology-driven solutions to address the complete payment and banking needs of Indian businesses.
Serving over 300 million end consumers across India, the company boasts an annualised Total Payment Volume (TPV) of $180 billion, Razorpay is the second Indian company to join Silicon Valley’s prestigious tech accelerator, Y Combinator.
The company is backed by marquee investors like , Lone Pine Capital, , TCV, GIC, , Peak XV Partners (formerly Sequoia Capital India), Ribbit Capital, Matrix Partners, Salesforce Ventures, Y Combinator, and MasterCard.
It has raised $741.5 million across Series A to F funding rounds, with contributions from angel investors.
Recently, Razorpay, in partnership with Peak XV Partners and Lightspeed, launched a venture investment programme to support early-stage B2B startups, investing up to $1 million per startup annually across sectors like fintech, healthcare, education, logistics, and hospitality.
Edited by Jyoti Narayan