Bengaluru-based Even Healthcare launches its first-ever ESOP buyback worth $500,000

In a bid to boost employee wealth creation, Bengaluru-based Even Healthcare has announced its first Employee Stock Ownership Plan (ESOP) buyback worth $500,000. 

The startup said it will conduct the buyback at its primary valuation without any discount, a notable departure from the usual ESOP “haircuts” seen in the startup ecosystem.

By offering the full valuation, it aims to maximize returns for its employees and demonstrate confidence in its long-term outlook.

“At Even Healthcare, we believe in creating long-term financial opportunities for our employees. This buyback is a testament to our commitment to ensuring everyone who contributes to Even’s growth benefits from it. We are proud to set a new benchmark in the industry and look forward to expanding our ESOP program further,” said co-founder Matilde Giglio.

The development comes after the startup raised $30 million in a Series A funding round in October last year.

What does Even Healthcare do?

Founded in 2020 by Mayank Banerjee, Giglio, and Alessandro Ialongo, Even Healthcare has quickly gained traction with an integrated healthcare model encompassing diagnostics, primary care, and insurance-backed hospital services.

Operating on a fee-based system, Even charges members an annual fee of around Rs 4,800 for unlimited consultations and diagnostics, with an optional add-on for hospitalization coverage.

Comprehensive equity program

In addition to the buyback, Even Healthcare offers a comprehensive equity program that grants stock options to all full-time employees—under the same conditions as founders—along with “guaranteed refresher benefits” ensuring ongoing stock-based rewards.

The startup also publishes its compensation structures and ESOP allocations on its careers page, a transparency measure aimed at fostering a culture of trust and ownership.