Yubi Expands ESOP Pool, Adds Stock Options Worth $29 Mn

SUMMARY

The company has allotted 11 Lakh stock options under its existing 2022 ESOP scheme and an additional 11 Lakh options under its new 2024 ESOP scheme

With this, the total size of the fintech unicorn’s ESOP pool will now increase to over INR 1,000 Cr

Yubi Group saw its revenue surge 2X YoY to INR 327.6 Cr in FY23 even as loss soared 745% YoY to INR 482 Cr

Fintech unicorn Yubi Group, formerly known as CredAvenue, has rolled out additional stock options for its eligible employees worth INR 245 Cr (nearly $29 Mn).

As per Registrar of Companies (RoC) filings accessed by Inc42, the company’s board approved the allocation of 11 Lakh stock options under its existing 2022 Employee Stock Option Plan (ESOP) and an additional 11 Lakh options under its new 2024 ESOP scheme.

The development was first reported by Entrackr.

With this, Yubi’s 2022 ESOP pool will now increase to 49.08 Lakh options. Overall, the total size of the fintech unicorn’s ESOP pool will now increase to over INR 1,000 Cr.

Confirming the development to Inc42, a company spokesperson said that the ESOP scheme will be available for both existing and new employees. In a statement, Yubi said “it is investing in its team members through an expanded stock option plan, recognising the significant wealth creation potential it offers”.

“With over 86% of the workforce now shareholders, this initiative aligns the interests of the team with the long-term success of the company, rewarding their contributions and fostering a deep sense of ownership and commitment,” the company added.

Yubi also said that it has onboarded over 90 new campus hires since April 2024 to support its “ambitious growth and innovation goals”.

Founded in 2020 by Gaurav Kumar, Yubi Group is a full-stack digital platform designed to facilitate the discovery, trading, execution, and fulfillment of debt solutions for investors. The company is backed by Peak XV Partners, Lightspeed, Lightrock, TVS Capital, among others.

This expansion of the ESOP pools comes at a time when the company has made major leadership appointments across its group companies – Yubi, Corpository, and Aspero.

Meanwhile, Yubi Group reported a revenue of INR 327.6 Cr in the financial year 2022-23 (FY23), up 2X from FY22’s INR 165.6 Cr. On the other hand, loss soared 745% year-on-year (YoY) to INR 482 Cr during the year.