Visa processing startup Atlys has introduced its first worker inventory possession plan (ESOP) buyback, price Rs 4 crore, providing partial liquidity to eligible employees.

The startup stated workers got the choice to promote as much as 25% of their vested inventory choices. The programme was open throughout roles and features, whereas additionally permitting employees to retain and doubtlessly improve their long-term possession within the enterprise.

“We’ve all the time believed that the individuals constructing Atlys ought to have a share within the worth they assist create. This buyback is a crucial milestone in that journey. It offers eligible workers significant liquidity right now, whereas additionally giving them the chance to deepen their long-term possession within the firm as we proceed to scale globally,” stated founder and CEO Mohak Nahta.

“Our mission is easy: take away the limitations that forestall individuals from exploring the world,” Nahta added.

The announcement comes shortly after Atlys’ latest $36 million Sequence C funding spherical, which was led by Susquehanna Asia Enterprise Capital, with participation from traders together with MakeMyTrip, Elevation Capital, Lengthy Journey Ventures and Peak XV Companions.

Based in 2021, Atlys operates a digital platform that facilitates visa purposes for greater than 120 international locations, together with the UAE, Australia, Japan and the US.

The corporate stated it’s at present processing visas at an annual run charge of greater than 700,000 purposes and has recorded important development over the previous two years. Along with visa providers, it additionally presents travel-related merchandise comparable to eSIMs, international change and insurance coverage.

ESOPs are generally utilized by startups to draw and retain expertise, whereas aligning workers with long-term firm efficiency. Buybacks, in flip, permit workers to transform a part of their fairness into money.