LenDenClub becomes first P2P lending platform to enable ESOP liquidity
By Leandra Monteiro
LenDenClub, a Peer-to-Peer lending platform, announced its successful ESOP (Employee Stock Ownership Plan) liquidation.
Among the company’s workforce consisting of 200 employees, approximately 30% of team members, spanning senior, mid-level, and junior positions, possess ESOPs. When considering the current liquidation event, it is notable that approximately 85% of eligible employees have opted to exercise their right to participate. A select number of individuals have made the decision to pursue partial liquidation rather than opting for complete liquidation.
LenDenClub believes in recognising and rewarding individuals who work hard and achieve outstanding results. In line with this philosophy, the company offers ESOPs to its employees, recognising their instrumental role in creating value for the organisation. Unlike many other companies, LenDenClub extends ESOP eligibility to every single employee, regardless of their position within the company.
“This is a proud moment for me and my Co-founder Dipesh. Our team has shown unwavering belief in us, and we have proven them right. This achievement further reinforces our company’s commitment to rewarding our top performers with additional ESOPs. Inspired by the meritocratic principles of the global giant 3G Capital, we implemented them in LenDenClub a few years ago. The results have been remarkable, not just in terms of organizational performance, but also in terms of wealth creation for our team members. We have individuals who hold a range of ESOPs, from a few to a few hundred. Considering the set price of Rs. 3.25 lakhs for this current round of liquidation, the extent of wealth creation is truly remarkable. However, it’s important to remember that earning such wealth requires patience,” stated Bhavin Patel, CEO of LenDenClub. “We strongly believe in a shared vision, meritocracy, and our commitment to building wealth for our dedicated team members who contribute to the growth of our organization.”
The company has now introduced a liquidity program specifically designed for the current ESOP holders, further enhancing their financial opportunities.
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