Raise Financial Services, the parent company of stock broking platform Dhan, has acquired GreenLife Insurance Broking in an undisclosed all-cash and stock transaction to expand into the insurance distribution business.
GreenLife Insurance Broking Pvt Ltd (GIBL) is an IRDAI registered insurance broker operating across more than 50 cities and towns in East and North-East India through an offline distribution network.
Following the acquisition, Raise plans to invest around $15 million in GreenLife to build a technology-led consumer insurance distribution platform focused on product innovation, customer experience, and digital insurance management.
Founded in 2013 by Subir Mukherjee, GreenLife works with over 60 insurers across life, health, motor, and travel insurance categories.
Post-acquisition, GreenLife will continue operating as a wholly owned subsidiary of Raise and is expected to launch a new consumer-focused insurance buying and management platform by the end of 2026.
According to Raise, the move will help the company expand beyond investing and wealth products into broader financial protection and insurance services.
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 including Hornbill Capital, MUFG, BEENEXT, and 3one4 Capital.
The acquisition continues Raise’s aggressive expansion strategy across financial services and fintech infrastructure.
Recently, the company acquired algorithmic trading and investing platform Stratzy and also took over financial media startup Filter Coffee in January 2025. It is also in the process of acquiring wealthtech startup Infinyte Club.
On the operational front, Dhan crossed the 1 million user milestone earlier this year and retained its ninth position in India’s brokerage market with a 2.3% market share as of April.
Financially, Raise has witnessed rapid growth, with operating revenue surging 2.3X to ₹877 crore in FY25, while profit stood at ₹408 crore.
The acquisition highlights the growing convergence between investing, wealthtech, and insurance distribution as fintech platforms increasingly look to build integrated financial ecosystems.
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