Elevate Monetary Companies, the dad or mum firm of inventory buying and selling platform Dhan, has acquired GreenLife Insurance coverage Broking because it expands into insurance coverage distribution.

The acquisition, which is structured via a mixture of money and inventory, marks the corporate’s entry into the insurance coverage broking enterprise following earlier acquisitions in algorithmic buying and selling and media.

It beforehand acquired algorithmic trading platform Stratzy in a cash-and-stock transaction earlier this yr and acquired financial media startup Filter Coffee in January 2025.

The corporate didn’t disclose the transaction worth.

Based in 2021 by Pravin Jadhav, Alok Pandey, Jay Prakash Gupta and Rathi, Raise Financial operates platforms together with Dhan, Upsurge, Fuzz AI, ScanX and Stratzy.

The corporate entered the unicorn membership final yr after elevating $120 million and has secured almost $150 million in funding up to now from buyers together with Hornbill Capital, Mitsubishi UFJ Monetary Group, BEENEXT and 3one4 Capital.

It will make investments about $15 million in GreenLife to construct a consumer-focused insurance coverage distribution platform centred on expertise, merchandise and buyer expertise.

Based in 2013 by Subir Mukherjee, GreenLife operates throughout greater than 50 cities and cities in japanese and northeastern India via an offline distribution community. The corporate works with over 60 insurers throughout life, well being, motor and journey insurance coverage segments.

Following the acquisition, GreenLife will grow to be a completely owned subsidiary of Elevate Monetary. Its 25-member workforce will relocate operations to Mumbai, whereas the mixed enterprise plans to develop a hybrid distribution mannequin focusing on tier 1 and tier 2 markets.

“We consider adoption of insurance coverage stays low in India due to the dearth of transparency, cases of misselling, and complexities related to the general understanding and significance of insurance coverage,” stated Raunak Rathi, co-founder and director of Elevate Monetary Companies.

“GreenLife’s decade-long deep insurance coverage experience mixed with Elevate’s product and technology-driven strategy offers us a possibility to reimagine how India engages with insurance coverage,” he added.

In February, Dhan crossed a million customers, whereas the platform held a 2.3% market share in April, 2026.