Fintech unicorn CRED has declared Rs 100 crore worth representatives stock ownership plan or ESOPs buyback program in which workers who have vested choices as of Oct 31, 2021, will be qualified to take part in the buyback and sell a piece of their vested shares.
According to the organization, they are planning yearly liquidity occasions to support representative maintenance and commitment by creating abundance age.
Recently as a piece of its $81 million Series C round, the credit card charge installment application dispatched its first ESOP buyback program worth $1.2 million (Rs 9 crore) within a range of 2 years of its tasks.
Last month, the Kunal Shah-drove organization had gathered up $251 million in its Series E round at a valuation of $4.01 billion.
While CRED’s present ESOP program is an ongoing cycle, a few development stage startups, for example, Meesho, Browserstack, Udaan, Unacademy, ShareChat, Razorpay, MPL, Licious and Classplus have repurchased ESOP held by their representatives in the beyond 10 months.