Raise Financial acquires GILB in $15m bet to build direct insurance platform

Raise said that it has received all required regulatory approvals to acquire GIBL.

Raise Financial Services has acquired GreenLife Insurance Broking Private Limited (GILB) for an undisclosed amount and expects to invest $15m in GILB to build an insurance distribution platform.

Raise, an India-based financial services startup, said that it will build a direct consumer insurance distribution platform, allowing customers to buy and manage insurance services in the platform, according to a statement on 13 May 2026.

GIBL will operate independently as a 100% subsidiary of Raise Financial Services. It will launch the new platform by end-2026.

Raise said that it has received all required regulatory approvals to acquire GIBL.

GIBL was founded in 2013 by Subir Mukherjee. It reportedly covers over 50 cities and towns via its offline distribution network as a B2B insurance distributor.

Raise Financial Services, meanwhile, is a financial services platform established in 2021. It operates multiple products including Dhan, Upsurge (upsurge dot club), Fuzz (askfuzz dot AI), ScanX, Filter Coffee, and Stratzy.