Raise Financial Services, which operates platforms such as Dhan, Fuzz AI, Upsurge, Filter Coffee and Stratzy, has acquired GreenLife Insurance Broking, an IRDA-registered insurance broker, in an all-cash-and-stock deal as it expands into the insurance distribution business.
The company said it plans to invest $15 million in GreenLife to build a consumer-focused insurance distribution platform centred on technology, product innovation and customer experience. The move marks Raise Financial’s entry into the insurance segment and broadens its financial services portfolio beyond stock trading and investing.
The company said the insurance business would complement its existing offerings in investing and wealth creation by adding financial protection products to its ecosystem.
The acquisition, including the change of control, has received all regulatory approvals.
Founded in 2013 by Subir Mukherjee, GreenLife has partnerships with several life and general insurance providers across the private and public sectors. The company has built an offline distribution network across more than 50 cities and towns in East and North-East India and has established itself as a B2B insurance distributor.
Raise said it aims to build a hybrid distribution model combining digital-first experiences with advisory-led support across metro, Tier I and Tier II markets. Following the acquisition, GreenLife’s 25-member team will join Raise and relocate operations to Mumbai.
Raunak Rathi, co-founder and director of Raise Financial Services, said the company sees significant opportunity in improving insurance adoption through a more transparent and technology-led approach.
Published on May 13, 2026