Innoviti Announces US$ 5 Million ESOP Buyback Scheme This Diwali
– Move designed to reward employees for their stupendous contributions to making the company a leader
BENGALURU, India, Nov. 3, 2021 /PRNewswire/ —
- Innoviti Payment Solutions, India’s largest provider of payment solutions to offline enterprise merchants has announced a special ESOP buyback worth US $5 million. The payout is scheduled on Diwali day, making the festival of lights sweeter & brighter for its team.
- Innoviti’s ESOP is open to all full-time Innoviti employees, irrespective of their grade, with options being awarded based on performance and loyalty. More than 30% of all full-time employees, from senior leaders to system architects, marketers to field officers and call center executives are eligible for ESOP buyback. ESOPs provide an opportunity to these employees to create significant wealth that would not be possible through lifetime savings from salaries.
- Under the current ESOP buyback scheme, all eligible employees will be entitled to sell up to 40% of their vested options. Employees will get to earn up to 30X of the exercise price of the options, creating significant wealth.
- Innoviti uses payment technology in unconventional ways to turn payment transactions into customer acquisition and retention tools for merchants, banks, and brands, by bringing them on to a common platform, and helping them deliver unique customer experiences. Each business gets access to 3X loyal consumers at 1/3rd the cost, accelerating sales with unmatched efficiencies.
- With rapid growth in its business, the company today processes an annualized volume of US$16 Billion from 2,000+ cities. Innoviti has grown rapidly in the past year as leading enterprises chose Innoviti as their partner for their future growth. With a sharply segmented product strategy for each category of retail, Innoviti today is a leader in enterprise offline merchants in the food, fashion, healthcare and electronics categories, processing 76% of all digital payment volume happening there.
“Innoviti’s spectacular growth into a leader in India’s enterprise offline payments segment is the result of the tremendous hard work that our team has put in. Nothing can substitute the long hours they put in to find new ways to make things happen. This ESOP buyback scheme is a small token to make their Diwali a little brighter and sweeter.
I hope it will help some of them buy their first house, their first scooter, car, or a new smart phone. I hope it will help them reinforce their confidence in themselves, that sincerity and hard work always pays. I hope that it will help them fulfill their dreams, as they help the company fulfills its,” said Mr. Rajeev Agrawal, CEO, Innoviti.
About Innoviti Payment Solutions Pvt. Ltd., Bangalore, India.
Innoviti Payment Solutions Pvt. Ltd. is India’s largest provider of payment solutions to Enterprise merchants with a 76% market share of all payments happening in this segment. It has been a pioneer in using technology to help businesses extract better value from retail transactions than anyone else. The company processes an annualized volume of over US$ 16 Billion of merchant payments from over 2,000+ cities with a volume throughput per installation that is 2X of the country’s average. Bessemer Venture Partners, USA, FMO, Netherlands and Catamaran Ventures, India are investors in the company. The company has several patents filed for with two awarded. Innoviti is the winner of Mastercard’s Innovation Wizards Award, Reliance’s Most Promising Growth Consumer Finance Award, Deloitte Fastest Growing Companies in Asia award in 2020 and Best Digital Payments App of the Year Award in Payment Industry Awards, 2021. Innoviti is the only Indian payments SaaS company to be awarded the coveted SOC3 seal of excellence for adherence to principles of trust in privacy, security, confidentiality, availability, and processing of transactions.
Sarath Chandra Nerella
Associate Vice President – Marketing
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