Plum Insurance launches Rs 15 Cr ESOP buyback for current and former employees
- ByStartupStory | June 8, 2026
Employee health benefits platform Plum has announced its maiden ESOP buyback programme worth Rs 15 crore, offering liquidity to current and former employees.
The Bengaluru-based company said the buyback will cover 199 current and former employees, including 73 current employees and 126 former employees, with stock options vested as of March 31, 2026. Eligible participants can liquidate up to 25% of their vested ESOPs.
According to the company, 17 employees are expected to receive payouts of more than Rs 20 lakh. The programme also covers former interns and early team members who received stock options during Plum’s formative years.
The company said the initiative aims to reward employees who contributed to its growth and convert long-term ownership into tangible financial gains. Current employees will receive full fair market value for their vested stock options without any exercise cost or discount.
The development comes nearly three months after Plum raised $20.5 million in a Series B round led by Peak XV Partners. Existing investor Tanglin Venture Partners increased its stake in the company, while GMO VenturePartners joined as a new investor. The company raised fresh capital after nearly five years, following its $15.6 million Series A round led by Tiger Global in 2021.
Plum joins a growing list of startups that have offered liquidity to employees through ESOP buybacks this year. According to data compiled by Entrackr, nine startups have collectively bought back ESOPs worth more than $220 million in 2026 so far. The list includes BrowserStack, Innovaccer, CoinDCX, Unacademy, Tractor Junction, Emversity, Cashfree Payments and Kratikal.
Founded in 2019 by Abhishek Poddar and Saurabh Arora, Plum provides employee health insurance and benefits solutions to enterprises. The startup claims to serve more than 6,000 organisations and cover over 600,000 employees across India.
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