Company Decentro repays shares obtained through Employee Stock Ownership Plans (ESOP) to early workers, following achievement of payment volume over Rs 45,000 crore.
Decentro, a rapidly scaling API banking and data infrastructure platform, has announced its first employee stock ownership plan (ESOP) buyback program. This move positions the Indian fintech startup among prominent names in the country's fintech sector, joining the ranks of Razorpay, Pine Labs, and Paytm.
Rohit Taneja, Co-Founder and CEO of Decentro, stated that this buyback is a validation of the early team's belief in the company's vision. Taneja also mentioned that the buyback is a way to honor the faith of early employees and help unlock liquidity at specific milestones during the company's journey.
Decentro, which began as Grex AI, has seen significant growth since its inception. The company now processes over Rs 45,000 crore in annual payment volumes and serves over 1,600 enterprise customers, including NBFCs, banks, insurers, fintechs, and e-commerce platforms.
The optional nature of Decentro's ESOP buyback allows employees to choose between immediate liquidity and potential future upside. This initiative is available to early team members who joined Decentro around 2020.
Taneja emphasized that fintech empowerment via infrastructure has been Decentro's north star from day one. Positioning itself as an Indian fintech with global ambitions, Decentro's ESOP buyback is as much about rewarding past loyalty as it is about energizing the team for exponential growth ahead.
India's fintech ecosystem has witnessed significant growth and maturation over the past five years. Decentro's reverse flip strategy, which involves reversing its parent entity from Singapore to India within the next 12 months, signifies its long-term commitment to the Indian market and confidence in the country's regulatory environment for financial technology companies.
Recently, Decentro secured Rs 30 crore in its Series B funding round, which was led by InfoEdge Ventures. This funding will undoubtedly contribute to Decentro's continued growth and success.
In conclusion, Decentro's ESOP buyback program is a significant step in recognising and rewarding its early employees. This move not only validates the faith of the early team but also serves as a major incentive for sustained contributions in the company's journey towards exponential growth.
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