The Employee Stock Ownership Plan (ESOP) buyback program, which was completed by wealthtech platform Dezerv, will help current and former employees liquidate vested stock valued at Rs 46 crore, or roughly $5.3 million.
The Mumbai-based business raised $32 million in a Series B round led by Premji Invest in July of last year. Including its $7 million seed round, which Elevation and Matrix co-led in September 2021, Dezerv has raised about $60 million to date.
According to Media, Elevation Capital, Matrix, and Accel own 15.28%, 15.28%, and 11.46% of the company, respectively, while Premji Invest holds 9.84% of the cap table.
Dezerv provides business and high-salaried individuals with portfolio management services. It claims to have given its users returns of nearly 30% since its launch in April 2021 and manages investment portfolios by utilizing in-house specialists.
Media claims that Dezerv’s operating revenue increased from Rs 10.20 crore in FY23 to Rs 26.25 crore in FY24.
Through ESOP liquidity programs in 2024, Swiggy and Urban Company—which is getting ready for its IPO—became the leading wealth creators for their employees. Urban Company’s program was worth $24 million, while Swiggy’s was worth $65 million. Even and Rapido announced their first ESOP buyback program in 2025.
