Guwahati: Razorpay, a fintech platform, is purchasing Employee Stock Ownership (ESOPs) worth Rs 578 crore from 650 current and past workers. The fundraising round is being led by Lightspeed Venture Partners and Moore Strategic Ventures, who will later join the company's board of directors.

This is Razorpay's fourth repurchase, which provides employees with liquidity. It repurchased ESOPS for Rs 73 crore last year. Current and past employees with vested company stock will be able to sell up to 30% of their vested ESOP shares. Razorpay CEO and co-founder Harshil Mathur stated, "Our Razors remained together and together drove the firm through significant growth over the previous two years, despite the hurdles. These ESOPs are a chance for us to give back to our Razors and make a tiny impact in their lives."

At $7.5 billion, Razorpay is the most valuable fintech startup. Razorpay entered foreign markets this year with the acquisition of Malaysian fintech) business Curlec, and it also completed its sixth acquisition with the acquisition of payment technology startup iZealiant. In 2018, Razorpay's first ESOP sale benefited 140 workers. The second and third ESOP sales in 2019 and 2021, respectively, benefited about 400 and 750 workers. So far, the business has given ESOPS to 1,940 employees.