Raise Financial acquires GIBL for insurance distribution expansion

By Aarav Garg

Raise Financial Services has acquired GreenLife Insurance Broking Private Limited in a cash-and-stock transaction, marking the company’s entry into India’s insurance distribution market.

The acquisition expands Raise Financial Services’ presence beyond capital markets and trading into broader financial services, as FinTech firms increasingly look to build integrated ecosystems spanning investing, savings, lending and protection products. The company said it plans to invest $15 million into the business to develop a consumer-focused insurance distribution platform centred on technology, product design and customer experience.

Raise operates several financial platforms, including stock trading and investment products, and the move reflects a growing trend among FinTech companies to diversify into insurance as demand for digital financial services broadens. India’s insurance market continues to present significant growth opportunities, particularly in underserved Tier 1 and Tier 2 cities where digital adoption and financial awareness are rising.

GreenLife Insurance Broking, an IRDA-registered insurance broker founded in 2013, has built partnerships with public and private insurers across life and general insurance segments. The company has developed a distribution network across more than 50 cities and towns, particularly in eastern and north-eastern India, with a focus on business-to-business insurance distribution.

Following the acquisition, GreenLife’s team will become part of the Raise ecosystem as the company develops what it describes as a hybrid insurance distribution model combining digital onboarding and advisory-led support.

The deal highlights broader convergence across FinTech, wealth management and insurance distribution, as financial platforms seek to increase customer engagement by offering multiple financial products through unified digital experiences. For FinTech firms, insurance is increasingly viewed as a complementary layer alongside investing and payments, particularly as competition intensifies across India’s digital financial services market.