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Exclusive: Perfios launches new ESOP plan worth $76 Mn

EntrackrEntrackr · 8m ago
Exclusive: Perfios launches new ESOP plan worth $76 Mn
Medial

Exclusive: Perfios launches new ESOP plan worth $76 Mn The board of Perfios has passed a resolution approving the Perfios ESOP Plan 2025, which will consist of 2,05,764 employee stock options, as per regulatory filings accessed from the Registrar of Companies. SaaS-based B2B fintech firm Perfios has introduced a new employee stock option plan named “Perfios Employee Stock Option Plan 2025-A.” The board of Perfios has passed a resolution approving the Perfios ESOP Plan 2025, which will consist of 2,05,764 employee stock options, as per regulatory filings accessed from the Registrar of Companies. Each ESOP option will be converted into equity shares and will have a total vesting period of four years. According to Fintrackr’s estimates, the newly added ESOP plan is valued at approximately Rs 645 crore (around $76 million). According to startup data intelligence platform TheKredible, Perfios has raised a total of Rs 3,644 crore across multiple funding rounds, including Rs 662 crore ($80 million) from Kedaara Capital in March 2024. This investment pushed Perfios’ valuation beyond $1 billion, making it India’s second unicorn of 2024. The company acquired fraud detection platform CustomerXPS this month in an undisclosed deal and had previously acquired fintech startup Karza Technologies for Rs 600 crore in March 2022. Perfios provides revenue analysis, fraud checks, verification, and automated customer onboarding services to financial institutions in various verticals, including consumer lending, SME lending, and wealth management. The company claims to have a presence in 18 countries and to have powered over 1,200 institutions with its offerings. Perfios has demonstrated strong financial growth, with revenue rising 37% year-on-year to Rs 558 crore in FY24 from Rs 407 crore in FY23. Additionally, the company’s profits surged 9.2X to Rs 72 crore in FY24.

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Exclusive: Fintech unicorn Yubi adds fresh ESOPs worth $26 Mn

EntrackrEntrackr · 1y ago
Exclusive: Fintech unicorn Yubi adds fresh ESOPs worth $26 Mn
Medial

Fintech unicorn Yubi (formerly CredAvenue), which provides loans to businesses, has added fresh employee stock option (ESOP) options for its employees under its existing and new ESOP plans. The board at Yubi has approved a special resolution to add 22,00,000 employee stock options to its new and existing plan, bringing the total ESOP pool to 60,08,920 options, its regulatory filing accessed through the Registrar of Companies (RoC) shows. Yubi has added 11,00,000 new stock options to its existing 2022 ESOP plan, bringing the total to 4,908,920 options. The company has introduced a new 2024 ESOP plan with another 11,00,000 options, a separate filing with the RoC shows. The filing further added that expanding the ESOP pool is an attempt to attract and retain talents working with the company. According to TheKredible’s estimates, the newly added ESOP options are worth around $26 million while the company’s total ESOP plan stood at $70 million. Yubi turned unicorn in March 2022 after a $135 million Series B round led by Insight Partners, Dragoneer Investment Group, and B Capital Group. Last year, its valuation touched $1.5 billion after secondary sale. For the uninitiated, Yubi’s platform connects businesses seeking loans with financial institutions and other investors. Its solutions include vendor and dealer financing, and a bonds marketplace that provides access to exclusive primary and secondary bonds. In July, Yubi led a Rs 150 crore debt round for Infra. Market and also participated in a debt round for Auxilo. Entrackr exclusively reported both developments. The Vivriti-backed company almost doubled its revenue to Rs 328 crore in FY23. However, in its pursuit of growth, the firm’s losses spiked more than eight-fold to Rs 482 crore during the same period. The Bengaluru-based firm is yet to file annual financial statements for FY24.

Exclusive: Darwinbox adds $21 Mn worth of ESOP for employees

EntrackrEntrackr · 1m ago
Exclusive: Darwinbox adds $21 Mn worth of ESOP for employees
Medial

Exclusive: Darwinbox adds $21 Mn worth of ESOP for employees According to Entrackr’s estimates, the newly added ESOPs are valued at around Rs 186.6 crore (around $21 million), taking the total ESOP pool to Rs 426 crore ($48.4 million). HR tech platform Darwinbox has expanded its existing ESOP plan by adding additional employee stock options worth over $20 million. The board at Darwinbox has passed a resolution for approval to add 64,377 options to its existing plan, bringing the total ESOP pool to 1,46,908 options, its regulatory filing with the Registrar of Companies (RoC) shows. According to Entrackr’s estimates, the newly added ESOPs are valued at around Rs 186.6 crore (around $21 million), taking the total ESOP pool to Rs 426 crore ($48.4 million). In addition, the company holds 1,13,903 equity shares in its ESOP trust worth about Rs 330 crore ($37.5 million). In total, Darwinbox’s ESOP pool is valued at around Rs 756 crore ($86 million). This ESOP expansion comes on the heels of its Rs 86 crore ($10 million) ESOP buyback in June this year. Hyderabad-based Darwinbox offers a cloud-based HR management platform that covers recruitment, payroll, engagement, talent, and analytics. The company serves more than 1,000 clients, managing 4 million employees across 130 countries. According to the firm, the majority of its revenue comes from Southeast Asia and India. According to startup data intelligence platform TheKredible, Darwinbox has so far raised over $290 million across multiple funding rounds, including its $140 million in March co-led by Partners Group and KKR. The Peak XV-backed Darwinbox reported a 48% increase in operating revenue to Rs 333 crore in FY24, while its net losses widened to Rs 191.8 crore. The company is yet to disclose its FY25 financials.

Exclusive: PB Fintech adds new ESOP worth near Rs 2,000 Cr

EntrackrEntrackr · 1y ago
Exclusive: PB Fintech adds new ESOP worth near Rs 2,000 Cr
Medial

Policybazaar and Paisabazaar’s parent PB Fintech has introduced a new ESOP plan worth Rs 1,931 crore (approximately $233 million) under PB Fintech Limited Employees Stock Option Scheme 2024. The board at PB Fintech has passed a resolution to grant 1,14,00,000 employee stock options to its staff, directors and subsidiaries, its regulatory filing accessed from the National Stock Exchange shows. The employee stock under ESOP plan 2024 will be vested after 4 years from the date of granting. According to Entrackr estimates, the new ESOP plan is worth Rs 1,931 crore or $233 million. The above-passed resolution is subject to shareholders approval. PB Fintech has posted Rs 1,010 crore of revenue during the first quarter of the ongoing fiscal year with a steady profit that stood at Rs 60 crore. The firm also showcased robust financial growth with a 34.4% year-on-year revenue increase to Rs 3,438 crore in FY24. Meanwhile, it also turned profitable with Rs 64 crore in the last fiscal year. The ESOP approval was followed by impressive growth in the share price. The firm touched its 52-week high share price of Rs 1,763 on August 20. The company is currently trading at 1,694 (as of 15.37 today) with a total market capitalization of Rs 77,252 crore ($9.3 billion). Last month, the food tech major Zomato also received a shareholder’s nod for its new ESOP plan worth Rs 3,800 crore or $458 million, tallying its total ESOP pool worth $788 million. Among the public companies, Nykaa and TBO Tek also increased their ESOP pool in 2024.

Exclusive: Zepto expands ESOP pool by $169 Mn; total pool at $527 Mn

EntrackrEntrackr · 11d ago
Exclusive: Zepto expands ESOP pool by $169 Mn; total pool at $527 Mn
Medial

Exclusive: Zepto expands ESOP pool by $169 Mn; total pool at $527 Mn Quick commerce company Zepto has expanded its existing ESOP plan by adding additional employee stock options worth over $169 million. The board at Zepto has passed a resolution for approval to add 39.39 lakhs ESOP options to its existing plan, bringing the total ESOP pool to 122.90 lakhs, its regulatory filing with the Registrar of Companies (RoC) shows. According to Entrackr’s estimates, the newly added ESOPs are valued at around Rs 1,486 crore (around $169 million), taking the total ESOP pool to Rs 4,637 crore ($527 million). As per the filings, the company is extending an interest-free loan of up to Rs 700 crore to the Zepto Employee Stock Option Trust to facilitate the purchase or subscription of its equity shares under the Zepto Share Option Plan I (ESOP Plan), as approved by the Board. This ESOP expansion coincides with the company’s $450 million Series H funding led by California Public Employees’ Retirement System (CalPERS). As per filings, the company has received a primary injection of Rs 2,562 crore or $291 million from the likes of GC Holdings, Gladebook, Stepstone, Springblue, Goodwater, Lightspeed, and others. The company has raised a total of $2.3 billion since its inception, including $1.8 billion since January last year. Zepto’s revenue for FY24 was Rs 4,454 crore, more than double the Rs 2,026 crore reported in FY23. The company’s losses narrowed slightly from around Rs 1,272 crore in FY23 to Rs 1,249 crore in FY24. As per filings, Zepto clocked a turnover of Rs 11,110 crore ($1.3 billion) in FY25.

Exclusive: ShareChat adds new ESOP options worth $108 Mn

EntrackrEntrackr · 8m ago
Exclusive: ShareChat adds new ESOP options worth $108 Mn
Medial

Exclusive: ShareChat adds new ESOP options worth $108 Mn The board at ShareChat has approved a special resolution to add 5,83,800 employee stock options to its existing plan, bringing the total ESOP pool to 14,30,100 options. Mohalla Tech, the parent entity of the vernacular social media platform ShareChat and short video entertainment app Moj, has added fresh employee stock option (ESOP) options for its employees as part of its existing ESOP plans. The board at ShareChat has approved a special resolution to add 5,83,800 employee stock options to its existing plan, bringing the total ESOP pool to 14,30,100 options, its regulatory filing accessed through the Registrar of Companies (RoC) shows. Every 100 stock options will be converted into one equity share at a later date decided in the agreement. The expansion of the ESOP pool aims to foster employee ownership while attracting, retaining, and motivating talent, the filing further added. As per Fintrackr’s estimates, the newly added ESOPs are worth Rs 2,283 crore or $271 million while the value of the total ESOP pool stood at Rs 5592 crore or $665 million. Notably, these valuations are based on the company's $2 billion valuation. According to startup data intelligence platform TheKredible, ShareChat has raised around $1.2 billion from investors including Twitter (now X), Alkeon Capital, Moore Strategic Ventures, and Tencent, among others. Despite mopping up more than $1 billion, the company wasn’t able to show substantial revenue as of FY23. Struggle in monetization led to a steep fall in valuation which stood at less than $2 billion in the recent bridge round. The firm was valued at $5 billion during its last fundraise in June 2022. However, the firm has recorded a 30% year-on-year growth to Rs 718 crore during the fiscal year FY24. With the reduction in expenses, the adjusted EBITDA loss for the Tencent-backed firm stood at Rs 793 crore in the same period.

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