Why an Indian startup is spending $75 million on ESOP buybacks

Razorpay is spending $75 million on its biggest employee stock ownership plan (ESOP) buyback yet.

The fintech unicorn’s offer is open to 650 employees across all levels over the next few weeks. Lightspeed Ventures and Moore Strategic Ventures are buying these shares and joining the company’s cap table.

“Every single employee, current and former, has been an integral part of the Razorpay growth story. The last two years have been challenging for each one of us, and despite the challenges, our Razors stuck together and collectively guided the company to achieve newer heights of success,” Harshil Mathur, co-founder and CEO at Razorpay, told Quartz.

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Originally published on Quartz : Original article

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