Plum Insurance, an insurtech startup, announced a ₹15 crore employee stock ownership plan (ESOP) buyback programme on June 2, 2026. The buyback allows 199 employees, including current and former staff, to exercise their vested stock options as of March 31, 2026. Around 17 employees are expected to receive payouts exceeding ₹20 lakh each, the company said.
The buyback covers 73 current employees and 126 former employees, including early team members and former interns who received stock options during Plum’s early years. The company described the initiative as employee-friendly and inclusive, aiming to build a culture where ownership is a meaningful path to long-term financial wellbeing. This move follows Plum’s recent ₹193 crore Series B funding round to support talent acquisition and technology upgrades.
Founded in 2019 by Abhishek Poddar and Saurabh Arora, Plum Insurance provides an employee health benefits platform serving over 6,000 organisations and more than 600,000 employees. The startup has raised over $40 million from investors including Tiger Global, Incubate Fund Asia Peak XV Ventures, Tanglin Venture Partners, and GMO Venture Partners. The ESOP buyback reflects a growing trend among startups to offer liquidity options to employees amid competitive talent markets.
Plum’s ESOP buyback programme is its first and enables employees to liquidate up to 25% of their stock options. The company’s recent Series B funding round was valued at $20.6 million, marking a significant capital infusion to expand its market presence and technology capabilities.