Turtlemint raises $120 million
Indian online insurance platform Turtlemint has raised $120 million in Series E funding. The round was led by Amansa Capital, Jungle Ventures, and Nexus Venture Partners. Additional investors participating in the round include Vitruvian Partners, Marshall Wace, and others. To date, Turtlemint raised close to $200 million and this latest round values the company at ~$900 million.
Founded in 2015, Turtlemint is a digital platform designed to help financial advisors understand and distribute insurance to their community of customers. The Turtlemint advisor community currently has 160,000 plus insurance advisors using the platform. The company also offers several digital tools and its advisor app allows advisors to manage their insurance business online. Turtlemint also gives shoppers the option to compare and buy insurance.
“The insurance industry in India is at the cusp of transformation and we are proud to be playing a catalytic role in this journey. Insurance is an important risk mitigation tool that needs to be universally accessible. However, we believe that access is only one aspect of the insurance purchase journey. Another equally important aspect is informed decision making. Our solutions are designed to holistically enhance both these aspects through digital solutions that empower insurance advisors. Innovation and technology will continue to be the core focus of Turtlemint as we continue to increase our footprints in Tier 2, Tier 3 cities and beyond.” – Dhirendra Mahyavanshi, co-founder, Turtlemint.