People · Financial Services

Raise Financial hires CEO for new insurtech vertical

By Startup Enthusiast · 29 August 2026

What they do

Raise Financial Services runs stock broking platform Dhan and other fintech products

It hired Abhishek Singh as CEO of Pluto Insurance, its new insurtech vertical, after acquiring GreenLife Insurance Broking

The company committed $15 Mn to build a direct consumer insurance distribution platform using AI

Raise Financial Services hired Abhishek Singh as CEO of its new insurtech vertical Pluto Insurance.
Singh previously served as senior director at Upstox and has 23 years of experience in the insurance industry.
He is an alumnus of ICFAI Business School and has worked at Aviva India, PNB Metlife, and Edelweiss Tokio Life Insurance.
Pluto Insurance is housed under GreenLife Insurance Broking Pvt Ltd (GIBL), using its IRDAI registration and licence.
Raise Financial acquired GIBL three months after Singh's appointment in an undisclosed cash-and-stock deal.
The company committed to invest $15 Mn in GIBL to build a direct consumer insurance distribution platform.
Ranjeet Walunj joined Pluto Insurance as chief product and technology officer in late-July.

Raise Financial became a unicorn in October last year after a $120 Mn Series B led by Hornbill Capital and MUFG.
The acquisition of GIBL and hiring of Singh signals a push into the insurance distribution market.
The company already operates multiple fintech platforms including Dhan, Upsurge, and ScanX.

Raise Financial Services operates the stock broking platform Dhan.
It also runs financial market info platform Upsurge, market research platform ScanX, and AI trading insights platform FuzzAI.
The company acquired media startup Filter Coffee last year.
Pluto Insurance plans to build a platform using AI and technology that is spam-free, easy-to-use, and consumer-first.
GIBL has a strong B2B insurance distributor presence and an offline network spanning over 50 cities and towns.

Pluto Insurance plans to build a direct consumer insurance distribution platform using AI and technology.