Razorpay Celebrates 10th Anniversary with INR 1 Lakh ESOP Allocation to Employees

Razorpay, the fintech unicorn backed by Peak XV Partners, has announced the allocation of employee stock options (ESOPs) worth INR 1 Lakh to each of its current employees to commemorate its 10th anniversary. 

With over 3,000 employees, the Bengaluru-based startup is offering ESOPs to employees across all levels and functions.  

The company stated that such a large-scale initiative, providing uniform ESOP allocation to employees at all levels, is rare. For many of the employees, this marks their first ESOP allocation. 

This is Razorpays third ESOP liquidity program, following its first buyback in 2018, which saw 140 employees liquidating their shares and a $75 million buyback in 2022 that benefitted 650 employees.

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Founded in 2014 by Shashank Kumar and Harshil Mathur, Razorpay has expanded its offerings beyond payment solutions to include SME payroll management, lending, banking, and insurance.

The company is in the process of moving its corporate headquarters back to India from the US by the end of 2024, in line with plans for an initial public offering (IPO) in the next two years.

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As part of this restructuring, Razorpay is consolidating its six Indian units into a single entity, Razorpay Software India.

In FY24, Razorpay reported a 365% surge in net profit to INR 33.5 Cr, compared to INR 7.2 Cr in FY23, with operating revenue growing 9% to INR 2,475 Cr. 

This growth comes amid regulatory scrutiny in India's fintech sector, which has affected several startups, including ZestMoney, instamojo, and Paytm.

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