Yubi, a digital lending platform offering fintech startup expanded its Employee Stock Option Plan by adding fresh Employee stock options to its existing employee stock options. These newly allocated shares are worth around 26 million USD. The company offers a financial platform that is transparent, secure, seamless, and provides trusted financial solutions. The startup offers a digital platform to connect borrowers with lenders and provide them access to primary and secondary bonds. We are discussing about Fintech unicorn Yubi expanded its ESOP pools by allocating shares worth $26 million.
We are discussing about Fintech unicorn Yubi expanded its ESOP pools by allocating shares worth $26 million:
In a regulatory filing, the company mentioned that the board passed a resolution to add 22,00,000 employee stock options to its new and existing plans to reach the total employee stock option plan pool of 60,08,920 options. The fintech unicorn added around 11,00,000 new stock options to its existing Employee Stock Option Scheme 2022.
This makes the total number of options around 4,908,920. Yubi added 11,00,000 new stock options to its Employee Stock Option Plan (ESOP). The ESOP pool was expanded for its employees to attract new employees, hire new talents, and enhance productivity. A credible startup intelligence platform estimated the newly added employee stock options to be around $26 million, marking the total employee stock option plan at $70 million.
Yubi provides an online platform to strengthen the debt market and transform the financial landscape while building a transparent and responsible ecosystem for everyone. The company has offered over Rs 1,40,000 crore in debt volumes to more than 17,000 enterprises and over 6200 investors and lenders. The firm reduces the collection costs by 57 percent. The startup turned Unicron in 2022 after securing $135 million during its series B funding round led by Dragoneer Investment Group, Insight Partners, and B Capital Group. The company had a valuation of around 1.5 billion USD after its secondary sale. The unicorn also invested Rs 150 crore during the debt funding round of Infra. Market and Auxilo.
The fintech unicorn reported a two-times increase in its revenue to Rs 328 crore in FY24. However, the losses also increased eight times to Rs 482 crore in the same duration. The board approved granting these stock options to those under the Yubi employee stock option scheme. Many startups announced their ESOP buyback programs to enhance their workforce and efficiency to employees, including Paytm, Delhivery, Nykaa, and Purple. The company plans to revolutionize the fintech sector.
Conclusion
Yubi announced allocating its new fresh employee stock option Plan to its employees. These newly allocated stock options are worth around 26 million USD. The fintech unicorn offers an online marketplace to connect lenders with borrowers and provide them with financial solutions. The company filing mentioned that the board passed a resolution to allot 22,00,000 employee stock options to its new and existing plans. The startup claims to have provided around Rs 1,40,000 crore in debt volumes through its platform. Known investors back the company, including Peak XV, Lightspeed, TVS Capital, Dragoneer Investment Group, and Insight Partners.
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