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Acko Concludes First ESOP Liquidity Programme

Under the programme, employees who have completed three years at the organisation were given the option to liquidate their vested employee stock ownership plan

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Insurance start-up Acko backed by Amazon has concluded its first Employee Stock Ownership Plan (ESOP) liquidity program valued at $2 million for about 40 team members who have served long-term. Under the program, employees who have completed three years at the organization were given the option to liquidate their vested employee stock ownership plan, from anywhere in between 40% to 100% This exercise has valued the Bengaluru-based insurance company close to $500 million, or at a premium over its last round of funding. Former employees are also included in this program based on their eligibility.

Acko’s ESOP liquidity program comes at a time when several leading fintech firms in India such as Razorpay, Cred, and PhonePe have initiated a similar buyback provision after raising new capital. Acko had raised $60 million previously in September 2020, during a Series D funding round led by Munich Re Ventures. That round also saw the participation of existing investors like Intact Ventures, Amazon, and RPS Ventures.

Acko was founded in 2016, as the first digital insurance company. It is an IRDAI certified body, that works on zero commission and zero paperwork. It is a 100% digital platform with a low premium and zero hassle claims. They have also collaborated with best-in-the-business players such as Amazon, RedBus, and Ola.


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Acko General Insurance insurance esop amazon IRDAI stocks

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