#Exclusive: slice Announces Maiden ESOP Buyback Worth Rs 65Cr
slice, India’s leading credit card challenger company announced the completion of its first ESOP buyback today. Around 60 of both former and existing employees, holding vested stocks in the company are eligible for the buyback which is collectively worth INR 65 crores. This buyback reiterates slice’s gratitude towards its employees, who have stayed committed to slice’s mission throughout its journey.
ESOP BuyBacks have, for a long time, been an important part of employee welfare in larger organisations. The accelerated usage of this by Indian startups, is a sign of a healthy and an enormous growth in this space.
slice’s Founder-CEO Rajan Bajaj said, “We are on a mission to build the best financial products for India’s newest generation - the MZs. Our team's relentless passion and hardwork has been instrumental in our rapid growth. This buyback plan is our little way of saying “thank you” to our teams who have not only contributed to slice but also to the larger financial ecosystem. I cannot help but feel grateful for this opportunity to give back to the people who have shared the same vision and got on the journey from early on. This token of love towards our team is just the beginning. I am excited to see what the future holds for us."
In November 2021, slice entered India’s prestigious Unicorn club after raising $220mn in its Series B fundraise co-led by Tiger Global and Insight Partners. The company is re-innovating the payment experience in India with its slice super card. Having registered a 40% month-on-month growth and over 7 million registered users, the company aims to launch its UPI product in 2022 to further enhance the payments experience of the millennials and Gen-Z in India.
