In a move aimed at providing liquidity to its workforce, Bengaluru-based fintech company Cashfree Payments has rolled out an ESOP buyback programme covering more than 400 employees, including 175 former staff members.
The buyback allows both current and former employees holding vested stock options to monetise their holdings. Cashfree Payments has not disclosed the total size of the buyback or the valuation at which the shares were repurchased.
This development comes nearly a year after the company raised $53 million in a funding round led by Krafton. To date, Cashfree has secured a total of $95 million in funding from investors such as Y Combinator, Smilegate Investments, and the State Bank of India.
Founded in 2015, Cashfree Payments operates a payments and payouts infrastructure platform for businesses. The company processes over $80 billion in annual transaction volumes and serves more than 1 million merchants. Its client base includes startups as well as large internet-first companies.
Cashfree has also been scaling its cross-border payments segment. This business now contributes around 10% of the company’s overall revenue, driven by strong growth in transaction volumes over the past year.
According to a data platform report, Cashfree recorded operating revenue of ₹640 crore in FY25, slightly lower than ₹643 crore in FY24. During the same period, the company’s net loss widened by 14% to ₹154 crore, compared with ₹135 crore in the previous fiscal year.
The announcement marks the third major ESOP buyback programme disclosed in 2026 so far. Earlier, healthtech company Innovaccer completed an ESOP buyback worth nearly $75 million, while SaaS unicorn BrowserStack announced a $125 million ESOP liquidity programme.
For context, ESOP buyback activity remained relatively subdued in 2025, totalling just over $75 million. This compares with approximately $190 million in ESOP buybacks, payouts, and liquidity events in 2024. The figures were significantly higher in earlier years, standing at $802 million in 2023, $440 million in 2021, and $200 million in 2022.
The latest move highlights a renewed focus among startups on rewarding employees and offering liquidity amid a selective funding environment.
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