Perfios Launches New ESOP Scheme Worth INR 645 Cr

Fintech SaaS unicorn Perfios has created a new employee stock option plan (ESOP) ‘Perfios ESOP 2025-A’ for its employees ahead of its much-anticipated $500 Mn initial public offering (IPO).

The company’s board greenlit the proposal to introduce the new ESOP programme during an extraordinary general meeting on February 5. 

As per regulatory filings accessed by Inc42 from the Registrar of Companies, the company will grant 2.05 Lakh stock options to its employees under the Perfios ESOP 2025-A scheme.

Entrackr reported the development first. It said the newly added stock options are worth nearly INR 645 Cr (around $76 Mn).

Over the past few years, several new-age tech companies such as Razorpay, Flipkart, Swiggy, Nykaa and Delhivery among others, have granted ESOPs to their employees as a retention strategy as well as a wealth creation tool.

Not only did Indian startups issue ESOPs, but 16 new-age tech companies also participated in ESOP buybacks in 2024, generating a wealth of $148 Mn for their employees.

Under the new plan, Perfios will issue, allocate, and allot an equal number of equity shares to its employees upon the completion of the vesting period of 4 years.

Founded in 2008 by VR Govindarajan and Debasish Chakraborty, Perfios provides software solutions to financial institutions for credit decisions, analytics, onboarding automation, and due diligence, among others. 

Perfios entered the unicorn club in March 2024 after raising $80 Mn from Teachers’ Venture Growth (TVG), the late-stage investment arm of the Canadian pension fund Ontario Teachers’ Pension Plan.

The latest development comes amid reports that Perfios was planning to raise $500 Mn through its IPO at a valuation of $2 Bn. While reports suggested that the fintech SaaS unicorn was eyeing a public listing in 2024, the plans haven’t yet materialised.

In the run-up to its potential IPO, Perfios appointed Sumit Nigam as chief technology officer (CTO) and Anu Mathew as chief people officer (CPO) in November 2023.

In October 2024, Perfios was said to be in talks to make its US foray as part of its expansion plans to drive growth. Earlier this month, it acquired CustomerXPs, the parent entity of banking fraud management startup Clari5, for an undisclosed amount.

Perfios’ consolidated net profit skyrocketed 819% to INR 71.7 Cr in the fiscal year 2023-24 (FY24) from INR 7.8 Cr in the previous fiscal year.

Revenue from operations jumped 37.1% to INR 557.8 Cr during the year under review from INR 406.8 Cr in FY23.