Dezerv launches ESOP buyback worth $5.3 Mn

Wealthtech platform Dezerv has completed its Employee Stock Ownership Plan (ESOP) buyback program, which will facilitate the liquidation of vested stock worth Rs 46 crore (around $5.3 million) for both existing and current employees.

In July last year, the Mumbai-based company had raised $32 million in a Series B round led by Premji Invest. Dezerv has raised around $60 million to date including its $7 million seed round co-led by Elevation and Matrix in September 2021.

As per TheKredible, Premji Invest controls 9.84% of the cap table while Elevation Capital, Matrix, and Accel command 15.28%, 15.28%, and 11.46% of the company, respectively.

Dezerv offers portfolio management services to top-salaried and business individuals. It manages investment portfolios by leveraging in-house experts and claims to have delivered close to 30% returns to its users since its inception in April 2021.

According to Thekredible, Dezerv’s revenue from operations jumped to Rs 26.25 crore in FY24 from Rs 10.20 crore in FY23.

Swiggy and Urban Company, which is preparing for its IPO, emerged as the top wealth creators for their employees through ESOP liquidity programs in 2024. Swiggy's program was valued at $65 million, while Urban Company's stood at $24 million. In 2025, Rapido and Even announced their maiden ESOP buyback program.