Cashfree Payments Announces ESOP Buyback for Over 400 Current and Former Employees

Bengaluru-based fintech firm Cashfree Payments has announced an employee stock option plan (ESOP) buyback covering more than 400 employees, including 175 former staff members. The programme offers liquidity to current and former team members holding vested options, at a time when secondary liquidity events remain selective across the startup ecosystem. The company did not disclose the size of the buyback or the valuation at which shares were repurchased.

The development comes nearly a year after Cashfree raised USD 53 million in a funding round led by Krafton. Since inception, the company has raised a total of USD 95 million from investors including Y Combinator, Smilegate Investments and State Bank of India. Founded in 2015 by Akash Sinha and Reeju Datta, Cashfree operates payments and payouts infrastructure for businesses across India and overseas markets.

Cashfree processes over USD 80 billion in annualised payment volumes and serves more than one million merchants, ranging from startups to large internet companies. Cross border payments currently contribute around 10 percent of revenue, following growth in transaction volumes during the past year.

Financially, Cashfree reported operating revenue of INR 640 crore in FY25, compared with INR 643 crore in FY24, according to TheKredible. Net loss widened 14 percent to INR 154 crore from INR 135 crore in the previous fiscal year, reflecting investments in product and market expansion.

The buyback is among ESOP liquidity events announced in 2026. Healthtech firm Innovaccer recently completed an ESOP buyback worth USD 75 million, while BrowserStack announced a USD 125 million programme.

In contrast, ESOP buyback activity in 2025 remained subdued at just over USD 75 million, compared with about USD 190 million in 2024 and higher levels recorded earlier.