Cars24 has raised $850 million in a funding round in the last six months snd has announced an Employee Stock Option Plan (ESOP) buyback worth Rs 75 Crores to reward the company’s employees. The company said it has always held annual ESOP buybacks for the last four years for both existing and current employees.

Ruchit Agarwal, co-founder and CFO of Cars24, said, “This announcement shows our trust in our business and the growth we are seeing. Our annual ESOP buyback plan is an appreciation for our employees. We want to acknowledge and reward them for their determination and force to achieve the unimaginable by solving unique problems each day that have not been solved before concerning the used car market.