Former Coverfox CEO Premanshu Singh joins Paytm as senior vice president

Digital payments platform Paytm has appointed Premanshu Singh, former chief executive of insurance marketplace Coverfox, as its senior vice president (SVP). 

Singh will manage the financial business vertical for the Nodia-based unicorn and report to Paytm’s president Amit Nayyar, a statement said.

“We are excited to welcome Singh, who brings a wide range of experience in traditional industries as well in the digital ecosystem. As we deepen our presence in various segments of financial services, we continue to expand our leadership team to focus on multiple opportunities and possibilities that our Paytm ecosystem offers,” Nayyar said.

Read: Paytm arm gets brokerage license for insurance products

Singh has over 17 years of experience. Apart from being Coverfox’s CEO, he was the head of marketing at online doctor appointment booking platform Practo; head of emerging business, sales strategy and international at online matrimonial portal Shaadi.com; director of marketing at internet solutions company SMSGupShup; and also set up his own ecommerce venture a2zbaby.

“As India aspires to be a $5 trillion economy, building the next set of products and services for the end-user is going to be our focus,” Singh said.

Read: Paytm parent One97 Communications widens FY19 losses as expenses rise 

Singh holds an MBA from IIM Ahmedabad and has completed an executive programme from INSEAD in France.

The company witnessed multiple people movements in September.

Paytm Money, the company’s wealth management arm, promoted Pravin Jadhav from the position of whole-time director to managing director and CEO. Paytm’s senior vice president Deepak Abbot resigned; former Google executive Praveen Sharma was appointed as the company’s senior vice president for advertising business; and Ankit Sinha, who worked at Google Cloud, became the vice president of Paytm AI Cloud.

In August, it hired former Goldman Sachs executive Amit Nayyar as the president of its financial services vertical. In 2018, Paytm appointed Satish Kumar Gupta as its managing director and CEO.