Raise Enters Insurance Distribution with GreenLife Acquisition
The acquisition is expected to support Raise efforts to expand beyond investing and wealth management into financial protection services, strengthening its broader financial ecosystem.
Raise Financial Services, the parent company of stock broking platform Dhan, has acquired GreenLife Insurance Broking Pvt Ltd (GIBL), marking its entry into the insurance distribution segment. The deal, structured as a mix of cash and stock, was completed for an undisclosed amount.
As part of the acquisition, Raise plans to invest USD 15 million in GreenLife to build a consumer-focused insurance distribution platform, with an emphasis on technology, product innovation and customer experience.
Founded in 2013 by Subir Mukherjee, GreenLife operates an offline distribution network across more than 50 cities and towns in East and North-East India. The company partners with over 60 insurers and offers products across life, health, motor and travel insurance segments.
Following the acquisition, GreenLife will function as a wholly-owned subsidiary of Raise. The company is also planning to launch a new platform for insurance purchase and management by the end of 2026.
The acquisition is expected to support Raise efforts to expand beyond investing and wealth management into financial protection services, strengthening its broader financial ecosystem.
Founded in 2021 by Pravin Jadhav, Alok Pandey, Jay Prakash Gupta and Raunak Rathi, Raise operates multiple platforms including Dhan, Upsurge, Fuzz AI, ScanX and Stratzy. The company is backed by investors such as Hornbill Capital, MUFG, BEENEXT and 3one4 Capital.
The acquisition adds to Raise’s recent expansion moves, including the purchase of Stratzy and financial media startup Filter Coffee, as well as its planned acquisition of wealthtech platform Infinyte Club.
Raise Financial Services, the parent company of stock broking platform Dhan, has acquired GreenLife Insurance Broking Pvt Ltd (GIBL), marking its entry into the insurance distribution segment. The deal, structured as a mix of cash and stock, was completed for an undisclosed amount.
As part of the acquisition, Raise plans to invest USD 15 million in GreenLife to build a consumer-focused insurance distribution platform, with an emphasis on technology, product innovation and customer experience.
Founded in 2013 by Subir Mukherjee, GreenLife operates an offline distribution network across more than 50 cities and towns in East and North-East India. The company partners with over 60 insurers and offers products across life, health, motor and travel insurance segments.
Following the acquisition, GreenLife will function as a wholly-owned subsidiary of Raise. The company is also planning to launch a new platform for insurance purchase and management by the end of 2026.
The acquisition is expected to support Raise efforts to expand beyond investing and wealth management into financial protection services, strengthening its broader financial ecosystem.
Founded in 2021 by Pravin Jadhav, Alok Pandey, Jay Prakash Gupta and Raunak Rathi, Raise operates multiple platforms including Dhan, Upsurge, Fuzz AI, ScanX and Stratzy. The company is backed by investors such as Hornbill Capital, MUFG, BEENEXT and 3one4 Capital.
The acquisition adds to Raise’s recent expansion moves, including the purchase of Stratzy and financial media startup Filter Coffee, as well as its planned acquisition of wealthtech platform Infinyte Club.
