Oxyzo, the fintech startup Launches ESOP Pool Worth INR 477 Cr.
Key Highlights:
  • Oxyzo, the recently minted unicorn in fintech, is offering its employees an ESOP pool worth close to INR 500 Cr.
  • In addition to offering interest-free credit, Oxyzo also offers low documentation, and interest rates as low as 18% per annum.
  • It became India’s 98th unicorn startup in March of 2022 after raising $200 million in funding

Oxyzo, the recently minted unicorn in fintech, is offering its employees an ESOP pool worth close to INR 500 Cr. The fintech unicorn that just joined the coveted club with India’s largest Series A round of $200 million is creating an ESOP pool worth INR 477.5 Cr ($63 million).

A resolution was passed by the startup’s shareholders during its extraordinary general meeting held last month for the approval of its Employee Stock Option Plan 2022, under which fixed-term employees could receive up to 4,586,348 equity shares, each of INR 10.

Allotment of ESOPs provides employees with wealth creation opportunities and also assists employers in retaining valuable employees.

The startup was founded by Asish Mohapatra and Ruchi Kalra, who claim to have $350 Mn assets under management. It claims to grow 100% on a year-to-year basis. In total, Oxyzo disburses loans worth 4,000 Cr of INR each year to 2,500+ SMEs in India.

In addition to offering interest-free credit, Oxyzo also offers low documentation, interest rates as low as 18% per annum, and raw material priority through OfBusiness.

It became India’s 98th unicorn startup in March of 2022 after raising $200 million in funding from Alpha Wave, Tiger Global, Norwest Venture Partners, Matrix Partners, and Creation Investments.

The B2B commerce giant, now valued at over $5 billion, launched its lending platform Oxyzo in 2016, which provides working capital loans for businesses in the manufacturing and contracting sectors for buying new materials.

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