Esop repurchase of 154 crore announced by fintech company Perfios

 Esop repurchase of 154 crore announced by fintech company Perfios

Perfios, a SaaS fintech business, has announced in New Delhi that it would buy back shares from 135 workers for a total of 154 crore rupees. The business, which is headquartered in Bengaluru and also has an account aggregator license, said that the Esop (employee stock ownership plan) buyback had made 62 people billionaires.

According to the firm, "a total of 135 employees, including both current and former team members from different departments, have joined the Perfios millionaire club through the buyback program." "Eighty female employees are among those who will benefit from the buyback."

According to the report, some of the longest-tenured workers, from both core and non-core activities like administration and data processing, have seen a 30-fold boost in their pay.

In the midst of a financing crunch, Perfios, a 2008 startup that provides loan solutions for small and medium-sized enterprises as well as financial and data analysis software and tools, just secured $229 million in a Series D investment headed by Kedaara Capital. Both in North America and in Europe, it intends to increase its presence. Perfios was valued at $900 million during the investment round, which also included some secondary sales.

"Watching the Perfios Millionaire Club flourish and expand with the company's expansion is really rewarding. The buy-back underscores our commitment to prioritizing our people and building an atmosphere where everyone can succeed, according to Sabyasachi Goswami, CEO of Perfios.

The business bought the open financial platform Fego.ai, located in Chennai, last month. S. Kumar Srivatsan and S. Kumar Srikanthan, co-founders of Fego.ai, accepted positions in product and strategy at Perfios as part of the agreement, as originally reported by Mint.

Perfios reported 136 crore in sales for FY22, while 12.36 crore in losses.