Stockbroker Dhan acquires GreenLife Insurance Broking
13 May 2026, 07:24 PMRaise Financial plans to invest $15 million to build a direct consumer insurance distribution platform.
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Raise Financial Services, the parent company of stock trading platform Dhan, has acquired GreenLife Insurance Broking in an undisclosed cash-and-stock transaction as it enters the insurance distribution business.
As part of the deal, Raise plans to invest $15 million into GreenLife to develop a technology-led consumer insurance platform focused on improving product discovery and customer experience.
Founded in 2013 by Subir Mukherjee, GreenLife operates across more than 50 cities and towns in eastern and north-eastern India through an offline network and partners with over 60 insurers across life, health, motor, and travel insurance categories.
Following the acquisition, GreenLife will function as a wholly owned subsidiary of Raise and is expected to launch a new insurance buying and management platform by the end of 2026. The move marks Raise’s expansion beyond investing and wealth management into financial protection 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 such as Hornbill Capital, MUFG, BEENEXT, and 3one4 Capital.
The acquisition follows a series of expansion moves by Raise, including the purchases of Stratzy and Filter Coffee, while it also plans to acquire wealthtech startup Infinyte Club. Dhan recently crossed 1 million users and reported Rs 877 crore in operating revenue with Rs 408 crore in profit for FY25.
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