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Monetary providers startup ESOPDhan on Sunday mentioned it’s aiming at a Rs 500 crore mortgage ebook by 2025, serving to many extra folks purchase inventory choices being supplied by their employers.
To date, ESOPDhan has lent Rs 20 crore to fifteen Bengaluru and Hyderabad-based staff of two US-based excessive development tech firms.
Arrange by veteran buyers Shravan Shroff and Nitin Agarwal, the agency seeks to ease the acquisition of inventory choices by staff of high-growth SaaS startups.
‘Our expertise with startup groups over time threw up many issues of staff rewarded with ESOPs. We understood their difficulties, got here up ESOPDhan as an answer and determined to unveil its choices,’ mentioned Shroff.
At occasions, staff are unable to subscribe to ESOPs quickly after vesting due to lack of funds or lack of readability on tax therapy of the identical.
ESOPDhan has been working to unravel that downside for workers, and within the course of additionally facilitating a wholesome employer-employee relationship.
The startup will work with recognized late-stage excessive development firms with a rising buyer base. It has already tied up its fund requirement to scale it to Rs 500 crore, Shroff mentioned.
The enterprise began with ESOPDhan funding 5 India staff of Harness (harness.io), a $3.70-billion valuation firm that helps firms speed up their Cloud initiatives and roll out software program developments sooner.
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The subsequent set of 10 India staff that ESOPDhan funded belonged to Phenom, a US-based AI-powered HR-tech platform valued at $1.37 billion.
‘ESOPDhan workforce shared tax advantages of exercising my vested ESOPs early whereas serving to me with funds to train my inventory choices,’ says Vikas Naiyar, who labored with Harness.
Pooja Singhal, a software program skilled from the identical firm who and availed the ESOPDhan mortgage, mentioned: ‘For these working in unlisted firms with ESOPs as a part of their compensation plan, ESOPDhan mortgage is a good different to train their choices.’
Business estimates the worth of vested ESOPs by staff of Indian Unicorns until date to be greater than $10 billion.
The worth of vested ESOPS is anticipated to develop at a quick fee within the coming years.
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