Plum rolls out Rs 15 crore ESOP buyback
03 Jun 2026, 12:15 PMThe Bengaluru-based company said the initiative will benefit 199 individuals, including 73 existing employees and 126 former team members.
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Employee health benefits startup Plum has launched its first-ever ESOP buyback programme worth Rs 15 crore, enabling current and former employees to monetize a portion of their vested stock options.
The Bengaluru-based company said the initiative will benefit 199 individuals, including 73 existing employees and 126 former team members. Eligible participants can sell up to 25% of their vested ESOPs as of March 31, 2026.
According to Plum, 17 employees are expected to receive payouts exceeding Rs 20 lakh. The buyback also extends to former interns and early employees who were granted stock options during the company’s initial growth phase. Current employees will be able to cash out their vested shares at full fair market value without incurring exercise costs or discounts.
The announcement follows Plum’s $20.5 million Series B funding round earlier this year, led by Peak XV Partners. Existing investor Tanglin Venture Partners increased its investment, while GMO VenturePartners joined as a new backer. The round marked Plum’s first fundraising effort since its $15.6 million Series A raise in 2021, which was led by Tiger Global.
Plum is among a growing number of Indian startups providing liquidity opportunities to employees through ESOP buybacks. Industry data shows that nine startups have collectively executed ESOP buybacks worth more than $220 million in 2026, including BrowserStack, Innovaccer, CoinDCX, Unacademy, Tractor Junction, Emversity, Cashfree Payments and Kratikal.
Founded in 2019 by Abhishek Poddar and Saurabh Arora, Plum provides employee insurance and benefits solutions to businesses. The company claims to serve more than 6,000 organizations and cover over 600,000 employees across India.
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