Tide, the UK’s based business financial platform, recently facilitated the secondary sale of Employee Stock Ownership Plan (ESOPs) to investors for its employees in India, Bulgaria and the UK, following its recent Series C funding, due to oversubscription. Approximately 50-percent of all permanent employees have been allotted ESOPs at various levels across all departments.
Earlier in July 2021, Tide raised more than $100 million in Series C funding, which brought the company’s total funding to date to over $200 million. It began its operations in India in 2020
Liza Haskell, Chief Administrative Officer, Tide, said, “Due to our oversubscribed Series C round, we had enough investor interest to give Tideans (employees) an opportunity to sell a portion of their vested shares to investors.”
Also Read: Tide raises $100 million in Series C funding
Commenting on the development, Liza Haskell further emphasised, “At Tide, we believe in the value of working as one team, and strive to be an employer of choice. Tide has been offering ESOPs to many employees since inception as this ensures we share in the success of our combined hard work to get us where we are today. Especially during Covid times, it is one of the best ways to keep employees motivated, engaged and living by the #oneteam value.”