Company buys back ESOPs from early employees as payment volume surpasses Rs 45,000 crore at Decentro.
Decentro, a five-year-old API banking and data infrastructure platform, has taken a significant step forward in recognizing the contributions of its early team members. The company, which 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, has announced its first employee stock ownership plan (ESOP) buyback program.
The ESOP buyback program is optional, allowing employees to choose between immediate liquidity and potential future upside, demonstrating the company's confidence in its growth trajectory. Employees can liquidate up to half of their vested stock options at valuations delivering returns of 3X to 10X on original strike prices.
Rohit Taneja, Co-Founder and CEO of Decentro, stated that the buyback is a validation of the faith early employees had in the company's vision. He further emphasized that fintech empowerment via infrastructure has been the company's guiding principle from its inception.
Decentro's ESOP buyback program is one of the initiatives that have become hallmarks of mature, high-growth fintech companies that prioritize employee ownership and long-term value creation. The company's reverse flip strategy, which involves reversing its parent entity from Singapore to India within the next 12 months, underscores its belief in India's capacity to nurture and scale global financial infrastructure companies.
The announcement of Decentro's ESOP buyback coincides with a pivotal moment for India's fintech ecosystem, which has experienced significant growth and maturation over the past five years. Decentro's ESOP buyback places it among a select group of Indian fintechs offering partial liquidity to long-tenured employees as a major reward for sustained contributions.
Taneja, who has personal experience from his previous startup (Mypoolin), sees the buyback as a way to honour that faith and unlock liquidity at specific milestones during the company's journey. He added that the ESOP buyback is a way for Decentro to reward past loyalty and energize its team for the exponential growth ahead.
Decentro recently secured Rs 30 crore in its Series B funding round, led by InfoEdge Ventures. This funding round will support Decentro's continued growth and expansion, as it positions itself as an Indian fintech with global ambitions, joining the ranks of other prominent Indian fintech names like Razorpay, Pine Labs, and Paytm.
In conclusion, Decentro's ESOP buyback program is a testament to the company's commitment to its employees and its belief in the potential of India's fintech ecosystem. As Decentro continues to grow and scale, it is poised to make significant contributions to the Indian financial services infrastructure.
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