Turtlemint: Insurtech Startup Turtlemint Raises $ 120 Million in Loans Led by Amansa Capital and Others

Bangalore / Mumbai: Insurtech startup Mint turtle raised $ 120 million led by Amansa Capital, jungle adventures Other Nexus Venture partner, the company said Friday. The online insurance buying platform closed its current funding round with a valuation of $ 900-950 million, an expert said. The fundraiser also saw the participation of new supporters Vitruvian Partners and Marshall Wace, along with other existing investors.

Turtlemint intends to use the new funds to expand into new geographies, expand its leadership team and strengthen its product line.

Founded in 2015 by Dhirendra Mahyavanshi and Anand Prabhudesai, Mumbai-based Turtlemint is a platform that helps financial advisors understand and distribute insurance to their client community. It aims to help these consultants meet each client’s individual needs by providing digital solutions.

Prabhudesai said in a prepared statement: “India is at a critical time, particularly in terms of demand for health insurance products. Tier II-III cities will account for a significant part of this demand … As people continue to seek assistance during purchase and claim travel, last mile distribution must be enhanced with the best technology. This is what our offline-online strategy solves for customers. ”

The company has raised $ 190 million to date, including this ongoing round. Turtlemint said it will look to expand into new geographies, such as Southeast Asia. It has recently expanded into the Middle East.

the insurance start-up has 160,000 insurance advisors on board over 15,000 pin codes in India.

Discover the stories of your interest

Stay on top technology Other startup news what matters. subscribe to our daily newsletter for the latest and greatest tech news, delivered straight to your inbox.