Greenlife Insurance Broking (Gibl) Has Been Acquired by Raise Financial Services

News Desk. News Nation 360: The IRDAI-registered insurance broker GreenLife Insurance Broking Private Limited (GIBL) has been fully acquired by Raise Financial Services, the parent company of the stock trading platform Dhan, in an all-cash and stock deal. Raise Financial intends to invest USD 15 million in GIBL to develop a direct-to-consumer insurance distribution platform centred on deep product integration, cutting-edge technology, and a simplified customer experience after all necessary regulatory approvals and change-of-control clearances are completed. GIBL, which was founded in 2013 by Subir Mukherjee, has a strong offline B2B presence in over 50 cities in East and Northeast India. As part of the new transformation, all 25 members of the company will migrate to Mumbai in order to integrate into the Raise ecosystem. Co-Founder and Director Raunak Rathi emphasised that the acquisition targets customers in metro areas, Tier 1 and Tier 2 markets using a hybrid digital-first and advisory-led distribution approach in an effort to address structural industry problems like low penetration, lack of transparency, and mis-selling. Raise is able to expand beyond capital markets and wealth creation thanks to this strategic venture, building a holistic financial ecosystem that seamlessly combines comprehensive life and general financial protection with investing platforms like Dhan, Upsurge, and Stratzy.

Pic: Courtesy