Financial services platform Stashfin announced on Tuesday that it has granted employee stock option plans (ESOPs) to its staff as part of its Rs 600 crore pool. The allocation amounts to Rs 5 lakh for employees who have been with the company for five years, and Rs 3 lakh for those who have completed three years. ESOPs allow employees to acquire company shares based on their tenure, fostering loyalty and helping to attract and retain top talent within the organisation.
Currently, Stashfin has a workforce of over 170 individuals, all of whom are eligible for ESOPs as part of their remuneration package. Tushar Aggarwal, Co-founder of Stashfin, stated, “At Stashfin, we are dedicated to cultivating an environment where every team member plays a vital role in our collective success. This ESOP allocation underscores our commitment to providing substantial value to our employees while acknowledging their long-term dedication to our vision.”
The vested ESOPs can be realised during liquidity events, such as an initial public offering or a company acquisition. Established in 2016, Stashfin has raised over Rs 6000 crore through various rounds of equity funding, securing investment from notable backers including Tencent, Altara Ventures, and Uncorrelated Ventures, among others.
In India, there has been a noticeable increase in startups offering ESOPs in light of the ongoing IPO surge, as numerous companies prepare to go public in the foreseeable future. Recently, digital payments and banking solutions unicorn Razorpay provided ESOPs worth Rs 1 lakh to all its current employees. Likewise, established firms like foodtech leader Zomato have allocated 19.66 lakh equity shares under various employee stock option plans.
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