Razorpay marked its 10th anniversary with a groundbreaking gesture. The company announced the allocation of Employee Stock Ownership Plans (ESOPs) worth Rs 1 lakh to every current employee, celebrating their dedication and contribution to its decade-long journey of innovation.
ESOPs are a significant wealth creation tool in the startup ecosystem, but such universal allocations across all levels are rare. For many Razorpay employees, this initiative represents their first-ever ESOP allocation. This move reflects the company’s deep-rooted belief that its workforce is the driving force behind its success.
“ESOPs are our way of ensuring every teammate shares in our success,” said Harshil Mathur, co-founder and CEO, Razorpay. “We want to reward the relentless passion and hard work that has brought us to this milestone,” he added.
Shashank Kumar, co-founder and MD, highlighted the cultural foundation of Razorpay. “From day one, we prioritised long-term value over shortcuts. This mindset shaped our culture and inspired initiatives such as these ESOPs, recognising the hard work and dedication of our team.”
Razorpay’s history of rewarding its employees through ESOP initiatives underscores its commitment to fostering a culture of ownership. For instance, in 2018, its first ESOP buyback enabled 140 employees to liquidate their shares. Later on, by 2022, a $75 million buyback benefitted 650 current and former employees.
This latest initiative expands on these efforts, ensuring that all employees are part of Razorpay’s journey forward.
From a simple payment gateway to a comprehensive multi-product platform, Razorpay has redefined digital payments and banking in India. As the company embarks on its next chapter, the company aims to continue innovating and creating greater value for businesses in India and beyond.
“This milestone is just the beginning,” said Mathur. “Together, we’ll continue to redefine how money moves and build a legacy of innovation.”
