Razorpay marks the decade milestone with ESOPs worth 1 lakh to all employees

Digital Payment and Banking Solutions Unicorn whoRazorpaywho Marking its 10-year journey has extended ESOPs worth Rs 1 lakh to all existing employees.

This is the latest in a series of company ESOP initiatives, from its first buyback in 2018, which allowed 140 employees to forfeit their vested shares, to a $75 million buyback in 2022 benefiting 650 current and former employees.

“In 2014, when we started Razorpay, we didn’t think of it as a startup, it was a big customer problem we wanted to solve – the complexity of integrating payment systems intrigued us. This is the common denominator so far. Believe that our customer- A focused approach has transformed us into a platform that empowers the dreams of millions of businesses across India today.” Razerpay Co-Founder & CEO Harshil Mathur said

He added, “The ESOP initiative is our way of ensuring that every teammate shares in our success as we continue to innovate, simplify money movement, and create greater value for businesses in India and beyond.”

Razorpay, founded in 2014 by IIT Roorkee alumni Shashank Kumar and Harshil Mathur, is a ubiquitous payments and banking platform providing innovative, technology-driven solutions to address the complete payment and banking needs of Indian businesses.

Serving over 300 million consumers across India, the company boasts an annual Total Payment Volume (TPV) of $180 billion, Razorpay is the second Indian company to join Silicon Valley’s prestigious tech accelerator, Y Combinator.

Marquee investors like have backed the company whoLightspeedwhoLone Pine Capital, whoCapital of AlkeonwhoTCV, GIC, whoTiger Global ManagementwhoPeak XV Partners (formerly Sequoia Capital India), Ribbit Capital, Matrix Partners, Salesforce Ventures, Y Combinator, and MasterCard.

It has raised $741.5 million from contributions from angel investors in Series A to F funding rounds.

Recently, Razorpay, in partnership with Peak XV Partners and Lightspeed, launched a venture investment program to support early-stage B2B startups, investing up to $1 million per startup in sectors such as fintech, healthcare, education, logistics and hospitality.