PB Fintech, which runs Policybazaar and Paisabazaar platforms, has elevated Sarbvir Singh as the joint group chief executive officer and executive director of the company from August 26.
The company co-founder and chairman Yashish Dahiya will continue to perform the role of Group CEO and there is no change in his role at the company.
Singh was a non-executive director of PB Fintech and was the CEO of the insurance division of Policybazaar from late 2019 and will continue to head the division. He has been appointed to the new role for five years.
Singh was the founding MD of Capital18, the venture capital arm of Network18 Group, and ran the company for close to nine years. Prior to his role at PB Fintech, he was managing partner at WaterBridge Ventures. He has also worked as the chief financial officer of HomeShop18.
PB Fintech reported a sharp contraction in its consolidated loss at Rs 12 crore for the quarter ended June 2023, a dramatic reduction from Rs 204 crore loss it reported during the first quarter of last year.
The insurance aggregator’s operational income for Q1 came in at Rs 666 crore, up 32 percent against Rs 505 crore registered in the corresponding quarter of the previous fiscal. It reported a total income of Rs 757 crore.
Singh’s elevation comes even as the company is at the cusp of making profits, one of the few new-age technology startups that will do so. He holds an integrated master’s degree in mathematics and computer applications from Indian Institute of Technology, Delhi and a post-graduate diploma in management from Indian Institute of Management, Ahmedabad.
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