Kolkata-based B2B startup NowPurchase has achieved a significant milestone with its inaugural Employee Stock Option Plan (ESOP) buyback. Valued at approximately 100 times the initial purchase price, the buyback has brought transformative financial benefits to its employees, underscoring the company’s commitment to shared success.
This milestone follows NowPurchase’s recent $6 million funding round, raising its total funding to over $10 million. The round was supported by InfoEdge Ventures, Orios Venture Partners, 100 Unicorns, VC Grid, and prominent angel investors. Despite the lucrative opportunity, senior leaders such as Sachin Singh, Prateek Losalka, and Nishant Singh chose to retain most of their options, reflecting confidence in the company’s growth trajectory.
Naman Shah, CEO and Co-founder of NowPurchase, highlighted the inclusive nature of the program, noting that employees across all levels, from warehouse staff to potential CXOs, benefited from this initiative. “This buyback reflects our dedication to creating value for every member of our team,” he stated.
Founded in 2017, NowPurchase specializes in streamlining procurement for metal manufacturers, offering raw materials like metal scrap, alloys, and additives through a trusted and transparent platform. Its innovative offerings include MetalCloud, a proprietary SaaS platform for process optimization, and a WhatsApp bot for real-time price and stock updates, alongside on-ground support and quality assurance services.
With this landmark ESOP buyback, NowPurchase continues to reinforce its commitment to empowering employees while driving innovation in the metal manufacturing sector.
