Founded in 2014 by two IIT Roorkee alumni, Harshil Mathur and Shashank Kumar, Razorpay started as a single-product payment gateway. Today, It has grown into a multi-product platform with an annualised total payment volume of $180 million.
Razorpay 10th Anniversary
Recently, the fintech unicorn marked its tenth anniversary and gave a special surprise to its employees.
According to Moneycontrol, the fintech unicorn announced giving ESOPS (employee stock ownership plans) worth Rs 1 lakhs to all its current 3000 employees, who are called “Razor” in the organisation.
Harshil Mathur, Co-founder and CEO of Razorpay, told Moneycontrol, “The ESOP initiative is our way of ensuring every teammate shares in the success as we continue to innovate, simplify money movement, and create greater value for businesses in India and beyond.”
However, it is pertinent to note that this is not the first time that Razorpay has used ESOPS to incentivise employees and reward them for their commitment to the firm. In 2018, the company marked its first ESOP buyback.
This enabled 140 employees to liquidate their vested shares. Then, in 2022, Razorpay did a $75-million buyback. This directly helped 650 current and former employees to liquidate their shares.
As of now, Razorpay enables payments for 80 Indian unicorn startups and has 300 million end consumers. From products that range from addressing payments, banking, and financial and technology needs, the company does it all.
ESOPs are steadily gaining popularity as a tool that incentivises employees. In 2024, startups like Swiggy and Urban Company announced ESOPs. In 2023, PhonePe and Zerodha also made headlines for the same.
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