Online real estate rental startup NoBroker has announced a Rs 32.2 crore or $4.2 million employee stock ownership plan (ESOP) buyback programme for its former and current employees.
The company said that the opportunity to liquidate the stock options is being provided to around 95 former and current staff of the 57% total strength.
Founded in 2013 by Saurabh Garg, Amit Kumar Agarwal and Akhil Gupta, NoBroker offers a tech-based brokerage-free real estate platform, which enables users to buy and sell as well as rent properties across six key metros including Bengaluru, Mumbai, Pune, Chennai, Hyderabad and Delhi-NCR.
Currently, NoBrokerHood has close to 60 brand sellers on its platform and plans to scale its presence from 10,000 gated communities to 100,000.
In November 2021, NoBroker had raised $210 million as a part of its Series E funding round led by General Atlantic, Tiger Global Management and Moore Strategic Ventures. Entrackr had exclusively reported about the round in October last year.
