Stashfin grants ESOPs of up to Rs 5 L to employees
The ESOP allocation is part of the company’s Rs 600 crore pool that is aimed to reward its employees.
Financial services platform on Tuesday granted employee stock option plans (ESOPs) to its employees as part of its Rs 600 crore pool.
The allocation is worth Rs 5 lakh for employees who have completed five years and Rs 3 lakh for employees who have been with the company for three years.
ESOPs grant employees of a company with stocks based on the duration of their employment and is aimed to nurture commitment and to reward and retain top talent at a firm.
Stashfin currently employs over 170 people and every employee is eligible for ESOPs as part of their compensation package.
“At Stashfin, we are committed to fostering a culture where every teammate is a key contributor to our success. This ESOP allocation reflects our belief in creating meaningful value for our employees while recognising their long-term commitment to driving our vision forward,” said Tushar Aggarwal, Co-founder of Stashfin.
The vested ESOPs can be unlocked through liquidity events such as an initial public offering or an acquisition.
Founded in 2016, the company has secured more than Rs 6000 crore across multiple rounds of equity funding from investors such as Tencent, Altara Ventures, and Uncorrelated Ventures, among others.
India has seen a rise in startups allocating ESOPs amidst the IPO boom as more companies map out their journeys to go public in the near future. Most recently, digital payments and banking solutions unicorn Razorpay extended ESOPs worth Rs 1 lakh to all current employees.
Listed companies like foodtech major Zomato has also allotted 19.66 lakh equity shares under various employee stock option plans.
Edited by Jyoti Narayan