Marking a decade of fintech innovation and empowering millions of businesses, Razorpay, India’s Leading Full-stack Payments and Banking Platform for Businesses, today announced that it is extending ESOPs worth 1 lakh to all its current employees. In a testament to its employee-first ethos and to honor the unwavering dedication of its team, this gesture underscores the company’s gratitude for the relentless passion and contributions that have shaped Razorpay’s remarkable journey over the past 10 years.
ESOPs have long been a valuable means of wealth creation in the startup ecosystem. It is uncommon for companies to undertake such initiatives on a large scale, particularly by uniformly allocating fresh ESOPs to all current employees across all levels. For many employees, this marks their first-ever ESOP allocation. Razorpay strongly believes that its employees are the driving force behind its growth, and ESOP allocations are one of the many meaningful ways it shows appreciation for their contributions.
Razorpay was founded in 2014 and over the past decade, the company has grown exponentially, setting new benchmarks in the fintech industry. Today, it supports millions of businesses and has reached more than 300 million end consumers across India.
Reflecting on the last decade, Harshil Mathur, Co-founder & CEO of Razorpay said, "Back in 2014, when we started Razorpay, we didn’t think of it as a startup, it was a massive customer problem we wanted to fix - the complexity of integrating payment systems intrigued us. That’s been the common denominator till now. I believe our customer-centric vision is what has transformed us from a simple idea of making payments seamless into a platform that is empowering the dreams of millions of businesses across India today. This vision is not a destination but an ever-evolving journey, we have a long way to grow, evolve, and innovate as new opportunities and challenges emerge with India’s ever-growing digital economy.”
He added, “And we’re beyond grateful for everyone who has been part of this journey - our team - the heart and soul of Razorpay, our customers, investors, advisors, partners, well-wishers and cheerleaders, and the fintech ecosystem. While we’re proud and humbled by how far we’ve come, this 10-year milestone is only the beginning of a much larger journey that lies ahead. The ESOP initiative is our way of ensuring every teammate shares in the success as we continue to innovate, simplify money movement, and create even greater value for businesses in India and beyond."
Looking back over the past 10 years, Shashank Kumar, Co-founder & MD of Razorpay, said, “It’s been an incredible and humbling decade of innovation, growth, and transformation for us, and I would give due credit to our team for inculcating the right mindset from the start. Early on, Harshil & I were shaped by our middle-class upbringing, where we learned to prioritize doing the right thing rather than taking shortcuts. Razorpay was never about short-term wins but about building something meaningful over the long term. It reinforced a simple principle: do what adds value to our customers and avoid distractions like chasing trends or short-term optimizations for valuation. This mindset became the foundation of our culture—and it is this culture of long-term thinking and value creation that drives us to recognize and reward our team’s hard work through initiatives like granting ESOPs to all employees. The next chapter promises even more, and I look forward to building it together with our Razors.”
Over the years, Razorpay has set industry benchmarks with its ESOP initiatives, recognizing and rewarding the contributions of its teams. From its first ESOP buyback in 2018, which enabled 140 employees to liquidate their vested shares, to the $75 million ESOP buyback in 2022 benefiting 650 existing and former employees, Razorpay has continually ensured its success translates into tangible value for its people. These initiatives highlight Razorpay’s commitment to building a culture of ownership and mutual progress, with ESOPs as a cornerstone of its employee-first philosophy.
_20241218172944_original_image_25.webp)