India, May 14 -- Dhan's Latest Acquisition

Raise Financial Services, the parent entity of investment tech platform Dhan, is widening its fintech playbook again. The fintech unicorn has now moved into the insurtech space with the acquisition of insurance broker Greenlife Insurance for an undisclosed amount.

Insurance In The Mix: The cash and stock deal will pave the way for the unicorn to enter the insurance distribution segment. It will also invest $15 Mn in GIBL to build a direct consumer insurance business, scale hybrid distribution and roll out advisory-driven support to target metros and other smaller markets. As part of the deal, GIBL's 25-member team will join Raise and relocate their operations to Mumbai.

Why Insurance? This is ...