Acquisition · Financial Services
Raise Financial rebrands acquired insurance arm as Pluto Insurance
By Startup Enthusiast ·
- Date
- Company
- Raise Financial Services
- What it does
- financial services and insurance distribution
- Kind
- Acquisition
- Sector
- Financial Services
What they do
Raise Financial Services, parent of stock broking platform Dhan, rebranded its acquired insurance broker GreenLife Insurance Broking Pvt Ltd as Pluto Insurance
What happened
The company plans to invest ₹100 crore in the newly rebranded insurance platform, aligning with its earlier $15 million investment commitment in the…
Why it matters
Pluto Insurance will operate as Raise’s dedicated insurance platform, expanding its growing portfolio of acquisitions in financial services
The details
- Raise Financial Services, the parent company of stock broking platform Dhan, has rebranded its acquired insurance broker GreenLife Insurance Broking Pvt Ltd as Pluto Insurance.
- The rebranding follows Raise’s acquisition of GreenLife in May this year, which was completed through an all-cash and stock deal for an undisclosed amount.
- Raise plans to invest ₹100 crore in Pluto Insurance, aligning with its earlier $15 million investment in the insurance business after the acquisition.
- Pluto Insurance will operate as Raise’s dedicated insurance platform, focusing on technology, product innovation, and customer experience.
- The rebranding is part of Raise’s strategy to expand its presence in the insurance distribution space.
The bigger picture
- Raise’s acquisition of GreenLife Insurance Broking Pvt Ltd adds to its growing portfolio of financial services platforms, including Dhan, Upsurge, Fuzz AI, ScanX, and Stratzy.
- The company reported a 13.8% increase in net operating income to ₹905 crore in FY26, but its profit after tax declined 20.1% to ₹326 crore.
- Raise is backed by investors such as Hornbill Capital, MUFG, BEENEXT, and 3one4 Capital.
About the business
- Raise Financial Services operates multiple financial platforms, including Dhan (stock broking), Upsurge, Fuzz AI, ScanX, and Stratzy.
- The company has acquired several financial services startups, including algorithmic trading platform Stratzy and new age media startup Filter Coffee.
- Raise is preparing to acquire wealthtech startup Infinyte Club, expanding its financial services ecosystem.
- The rebranded Pluto Insurance will focus on insurance distribution through technology, product innovation, and customer experience.
- GreenLife Insurance Broking Pvt Ltd, now Pluto Insurance, operated across more than 50 cities and towns in East and North East India.
What happens next
- Raise is set to acquire wealthtech startup Infinyte Club, expanding its financial services portfolio.
- Pluto Insurance will operate as Raise’s dedicated insurance platform, focusing on technology and customer experience.
The deal
- Type
- acquisition
Investors
- Hornbill Capital (investor) — Venture capital firm focused on early-stage startups in India.
- MUFG (investor) — Japanese multinational banking corporation.
- BEENEXT (investor) — Venture capital firm investing in early-stage startups.
- 3one4 Capital (investor) — Venture capital firm focused on deep tech and financial services.
Founders
- Subir Mukherjee, founder of GreenLife Insurance Broking Pvt Ltd
More on Raise Financial Services
- Raise Financial hires CEO for new insurtech vertical29 August 2026 · People
- Raise Financial Services posts ₹325.8 Cr profit in FY2617 June 2026 · Results
- Raise launches Gen Z-focused investment app Millions4 June 2026 · Launch
- Raise acquires GreenLife to expand insurance distribution13 May 2026 · Acquisition
- Raise Financial Services acquires algorithmic trading firm Stratzy21 April 2026 · Acquisition
- Raise launches Artham, an SLM for Indian markets4 December 2025 · Launch
- Raise Financial Services to launch AI model Fuzz26 August 2025 · Launch
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