CRED Increases its ESOPs Pool by $143 Million

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CRED Increases its ESOPs Pool by $143 Million
20 Jan 2022
6 min read

News Synopsis

The fintech company, CRED has increased its employee stock option pool (ESOPs) by $143 million, taking its total tally to around $500 million. With this, the employees at CRED will collectively have up to 12.5% of the $4.01 billion business. The company has also said that every employee at CRED will get stock in the company.

CRED currently has a team of 600 employees. The price at which the employees can buy these stocks is still not revealed by the company. Usually, the price for the employees is at a discount compared to the price at which the investors buy the stocks.

CRED also runs an Accelerated Wealth Programme, that allows the team members to choose up to 50% of their annual cash compensation as special grant ESOPs. The company also claims to have the highest ratio of ESOP pool per employee in the industry.

CRED was founded in 2018 and started off as a credit card bill payment application. Later the company entered e-commerce, lending, payments and the investment segment. It claims to have a user base of more than 9.5 million.

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