Digital payments firm Cashfree Payments on Tuesday announced an Employee Stock Ownership Plan (ESOP) buyback covering more than 400 current and former employees, as the company completes a decade of operations.
The buyback includes around 175 former employees and is aimed at enabling wealth creation for individuals who have contributed to the company’s growth since its inception in 2015.
Akash Sinha, CEO and Co-founder of Cashfree Payments, said the initiative reflects the company’s focus on long-term value creation and shared growth. He added that the buyback recognises the contribution of both present and past employees as the company continues to scale its payments and identity infrastructure.
The announcement comes as Cashfree moves into a new 80,000 sq ft headquarters at Ecoworld, Bengaluru, marking the next phase of its expansion. The company said the new office is designed to support collaboration, employee wellbeing and AI-led innovation.
Cashfree Payments, which became the first fintech to receive the RBI’s Payment Aggregator–Cross Border (PA-CB) licence for both export and import flows, said its cross-border payments business recorded a 250 per cent growth in gross merchandise value (GMV) over the past year. Cross-border transactions currently contribute about 10 per cent of the company’s revenue, with a target to reach nearly 25 per cent by 2030.
The company currently processes over USD 80 billion in annual payment volumes and serves more than one million businesses, including Zepto, Swiggy, Nykaa, RedBus and BigBasket.
Cashfree Payments is backed by investors including Y Combinator, Apis Partners, State Bank of India and KRAFTON.