Raise Financial, parent of online stock broking platform Dhan, has acquired GreenLife Insurance, its third buyout in just over a year, marking its entry into insurance broking as wealthtech firms with deep pockets and growing profits look to build diversified financial services platforms.
The cash-and-stock acquisition is valued at around $1 million, according to a person in the know. The acquisition adds to the company’s dealmaking spree and underlines its diversification push after it raised $120 million last year at a valuation of $1.2 billion.
