Cashify declared its ESOP buyback plan worth $1 mn

Cashify, a re-business commercial center that sells and purchases utilized electronic contraptions, recently declared it's employee stock ownership (ESOP) buyback plan worth $1 mn. Under the arrangement employees would be given the choice to sell upto 35% of their vested ESOPs. The offer buyback plan comes when the organization asserts that it is developing at the pace of 7-8 percent month-on-month. 

This moves comes after the organization raised $ 15 mn from Olympus Capital. It is the primary ESOP deal occasion that compensates those employees who are adding to accomplishment of the association. The advantage will be utilized as an instrument to select new ability while holding experienced and devoted employees. 

"Cashify has blossomed with the innovative soul and feeling of dependable ownership that our employees acquire their methodology. The ESOP buyback is our method of recognizing and compensating their endeavors. We accept that this will help open worth, and make abundance for our high-performing ability," said Mandeep Manocha, founder and CEO of Cashify.