Employee stock ownership plan (ESOP) buyback initiated by Decentro, following their achievement of over Rs 45,000 crore in transaction volume.
Decentro, an India-based API banking and data infrastructure company, has announced its first employee stock ownership plan (ESOP) buyback program. This move comes at a pivotal moment for India's fintech teams, which have experienced significant growth and maturation over the past five years.
The ESOP buyback is available to early team members who joined Decentro around 2020. Rohit Taneja, Co-Founder and CEO of Decentro, stated that this buyback is a validation of the early teams' belief in the company's vision. The optional nature of the ESOP buyback allows employees to choose between immediate liquidity and potential future upside.
Employees can liquidate up to half of their vested stock options at valuations delivering 3X to 10X returns on original strike prices. This makes Decentro among a select group of Indian fintechs offering partial liquidity to long-tenured employees, including Razorpay, Pine Labs, and Paytm.
Decentro's recent Rs 30 crore Series B funding round was led by InfoEdge Ventures. The company has processed Rs 45,000 crore in annual payment volumes while serving over 1,600 enterprise customers, including NBFCs, banks, insurers, fintechs, and e-commerce platforms.
Taneja personally experienced the journey of a startup in his previous venture, Mypoolin. He emphasized that fintech empowerment via infrastructure has been Decentro's guiding principle since its inception. The company is positioning itself as an Indian fintech with global ambitions.
The reverse flip strategy indicates Decentro's long-term commitment to the Indian market and its belief in India's capacity to nurture and scale global financial infrastructure companies. Decentro is planning to reverse flip its parent entity from Singapore to India within the next 12 months.
This ESOP buyback positions Decentro as a company that values its teams and rewards their loyalty. It's an initiative intended to energize the teams for the exponential growth ahead. The announcement of the ESOP buyback coincides with a pivotal moment for India's fintech teams, further reinforcing Decentro's role in shaping the future of the industry.
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