Raise Financial Taps Abhishek Singh as CEO of New Insurtech Vertical

Fintech unicorn Raise Financial Services has appointed former Upstox executive Abhishek Singh as CEO of Pluto Insurance, its newly created insurtech vertical. The appointment marks Raise’s latest push to expand beyond stockbroking and build a broader financial services ecosystem around consumers.

Singh brings more than two decades of experience across insurance and financial services. Before joining Raise, he served as senior director at Upstox and previously worked with companies including Aviva India, PNB MetLife and Edelweiss Tokio Life Insurance. At Pluto, he will lead the development of a consumer-focused insurance platform built around simpler products, technology and AI-led experiences.

Pluto Insurance will operate under GreenLife Insurance Broking, which Raise acquired earlier this year through a cash-and-stock deal. At the time of the acquisition, Raise said it planned to invest around $15 million in GIBL to build a direct-to-consumer insurance distribution business. The platform is expected to build on GIBL’s existing B2B presence and offline network across more than 50 cities and towns.

The company has also been assembling its leadership team for the new vertical. In July, Ranjeet Walunj joined Pluto as chief product and technology officer, signalling a strong product and technology focus as Raise looks to simplify insurance discovery and distribution for consumers. Pluto’s website is yet to fully launch but has already opened a waitlist for users.

Founded in 2021 by Pravin Jadhav, Alok Pandey, Jay Prakash Gupta and Raunak Rathi, Raise already operates platforms including Dhan, Upsurge, ScanX and FuzzAI. The company entered the unicorn club in 2025 after raising $120 million at a $1.2 billion valuation. With Pluto Insurance, Raise is now extending its playbook from investing and market intelligence into insurance — bringing another major financial category under its growing fintech umbrella.