Connecting the dots in FinTech...’s Post

B2B payments and neobanking platform Razorpay is looking to get new investors on board through a share sale of $75 million by its employees, the company said on May 10. The purchase will be led by Lightspeed Venture Partners along with participation from Moore Strategic Ventures who will subsequently join the company’s cap table. This will also be Razorpay’s fourth and largest Employee Stock Ownership Plan (ESOP) buyback till date, and the second largest in the startup space after Flipkart’s Rs 600 crore buyback in July 2021. 650 of the startup’s existing and former employees will be eligible for this across roles including software engineers, product managers, customer experience agents, sales, and administrative staff. “There is no change in the valuation of the company as part of the transaction. The company is not even going to be a party to the transaction. These are investors who wanted to put money into the company. But we are very well capitalized so we decided to use this opportunity to create wealth for our employees,” Mathur said. Read the full moneycontrol.com article through the link in the comments below👇 #fintech #fintechnews #startup #fintechstartup #investors #investment #neobank #banking #payments #paytech #digitalpayments #paymentservices #paymentprovider