PhonePe distributes ESOPs worth Rs 1,500 crore among all employees

Walmart-owned digital payments firm PhonePe has distributed ESOPs (employee stock ownership plans) worth $200 million (about Rs 1500 crore) among its 2,200 employees. This after the company recently raised $700 million in primary capital at a post-money valuation of $5.5 billion from the existing Flipkart investors, including Tiger Global, led by Walmart.

The allotment of ESOPs to all full-time employees also coincided with the completion of five years of PhonePe.

“We rolled out the compensation to all our employees, whether they be software engineers, product managers, customer experience agents, or on-ground sales agents, in January this year,” said Manmeet Sandhu, chief people officer, PhonePe.