Acquisition · Financial Services

Raise acquires GreenLife to expand insurance distribution

What they do

Raise Financial Services acquires GreenLife Insurance Broking to build a direct consumer insurance platform

The deal uses cash-and-stock with undisclosed terms and includes a $15 million investment plan

This move targets metro and Tier I/II markets using GreenLife's existing offline network and team

Raise Financial Services has acquired GreenLife Insurance Broking Pvt Ltd (GIBL).
The transaction structure involves a cash-and-stock deal with financial terms remaining undisclosed.
Raise plans to invest $15 million in GreenLife to strengthen its operations.
The company will create a platform where consumers can buy insurance directly.
GreenLife will become a wholly owned subsidiary of Raise.
A 25-member team from GreenLife will join Raise and relocate to Mumbai.
This follows Raise's recent Series B funding and unicorn status achievement.

Insurance adoption in India remains low due to issues like lack of transparency and misselling.
Raise seeks to address these gaps through a hybrid distribution model with advisory support.
The strategy targets metro, Tier I, and Tier II cities for broader market reach.
GreenLife brings an established offline presence across East and Northeast India.

Raise operates multiple platforms including Dhan, Upsurge, FuzzAI, ScanX, and Stratzy.
Dhan is a stock broking and trading platform that crossed 1 million users in Feb 2026.
Dhan holds a 2.3% market share ranking ninth as of April 2026.
Upsurge provides financial market information while ScanX offers market research capabilities.
FuzzAI delivers AI-driven trading insights using the proprietary small language model Artham.
Stratzy is an algo-trading platform acquired earlier this year by Raise.
Filter Coffee media startup was also acquired by Raise in January 2025.
Raise reported FY25 revenue of Rs 877 crore with 2.3X growth.
FY25 profit stood at Rs 408 crore demonstrating strong financial performance.

Raise will launch a new platform for buying and managing insurance by the end of 2026.
Integrate GreenLife's offline network into Raise's hybrid distribution model.
Expand focus on product, technology, and customer experience improvements.