Raise Financial Appoints Abhishek Singh as CEO of Pluto Insurance

New Delhi, India Aug 29, 2026 ALN: Fintech unicorn Raise Financial Services has appointed Abhishek Singh as the chief executive officer (CEO) of its newly launched insurtech vertical, Pluto Insurance. This strategic move comes as part of Raise Financial's broader ambition to expand its offerings and tap into the growing insurance market, which has seen a surge in demand for innovative and customer-centric solutions.

Singh, who confirmed his new role in a LinkedIn post, brings with him an extensive background in the insurance sector, having spent over two decades in various leadership positions. His previous experience includes significant roles at companies such as Aviva India, PNB Metlife, and Edelweiss Tokio Life Insurance. Most recently, he served as a senior director at Upstox, a well-known player in the fintech space. In his announcement, Singh expressed his enthusiasm for joining Pluto Insurance, stating that he is excited to build solutions that address real problems for consumers rather than merely focusing on financial metrics.

In his LinkedIn bio, Singh highlighted Pluto Insurance's mission to create a platform that prioritizes customer needs, supported by advanced technology and artificial intelligence (AI). This approach reflects a broader trend within the insurtech industry, where companies are increasingly leveraging technology to enhance customer experience and streamline processes. The emphasis on AI signifies a commitment to utilizing data-driven insights to tailor insurance products that meet the specific requirements of consumers.

While the official website of Pluto Insurance is still under development, it is currently inviting prospective users to join its waitlist. The platform will operate under GreenLife Insurance Broking Pvt Ltd (GIBL), which has the same registration number and license code as GIBL, indicating a seamless integration between the two entities. This setup is expected to allow Pluto Insurance to benefit from GIBL's established presence in the insurance market, particularly in the business-to-business (B2B) sector.

Raise Financial's acquisition of GIBL, which took place three months prior to Singh's appointment, was a significant milestone for the company. The deal, characterized as a cash-and-stock transaction, was not disclosed in terms of financial specifics. However, it was reported that Raise Financial planned to invest $15 million into GIBL to develop a direct-to-consumer insurance distribution platform. This investment underscores the company's commitment to enhancing its insurance offerings and expanding its reach in the competitive insurtech landscape.

Reports have indicated that GIBL has been rebranded as Pluto Insurance, although Raise Financial has not made any formal announcement regarding this change. Such rebranding efforts are common in the startup ecosystem, particularly when a company seeks to redefine its market positioning or target audience. The new name, Pluto Insurance, reflects a fresh identity that aligns with the company's vision of delivering innovative insurance solutions.

Singh is the second high-profile executive to join Pluto Insurance in recent months. Ranjeet Walunj was appointed as the chief product and technology officer (CPTO) in late July, signaling a focus on building a robust technological foundation for the new platform. Walunj previously articulated the vision for Pluto Insurance, emphasizing the goal of creating a streamlined, user-friendly insurance experience that is free from spam and designed with the consumer in mind. The integration of product technology and AI is expected to play a crucial role in achieving this vision.

Pluto Insurance aims to leverage GIBL's extensive offline network, which spans over 50 cities and towns across India. This network will provide a solid foundation for reaching consumers and establishing a foothold in the market. The ability to combine online and offline distribution channels is a strategic advantage, especially in a country like India, where digital adoption is growing rapidly but traditional methods of insurance distribution remain prevalent.

Raise Financial, founded in 2021 by former Paytm Money CEO Pravin Jadhav along with Alok Pandey, Jay Prakash Gupta, and Raunak Rathi, has quickly emerged as a significant player in the fintech sector. The company operates a diverse range of platforms, including the stock broking platform Dhan, the financial market information platform Upsurge, the market research platform ScanX, and the AI-driven trading insights platform FuzzAI. Additionally, Raise Financial expanded its portfolio by acquiring the new-age media startup Filter Coffee last year, further diversifying its offerings.

In October of the previous year, Raise Financial achieved unicorn status after raising $120 million in a Series B funding round led by Hornbill Capital and Japan's MUFG, reaching a valuation of $1.2 billion. This milestone not only reflects investor confidence in Raise Financial's business model but also highlights the growing interest in fintech solutions that address the evolving needs of consumers in a digital-first world.

The appointment of Abhishek Singh as CEO of Pluto Insurance marks a pivotal moment for Raise Financial as it seeks to carve out a niche in the insurtech market. As the company prepares to launch its platform, the focus will be on delivering innovative insurance solutions that prioritize customer needs and leverage technology to enhance the overall experience. The success of Pluto Insurance will depend on its ability to navigate the complexities of the insurance landscape while meeting the demands of a tech-savvy consumer base.