Turtlemint Raises $120 Million in Series E Funding

Insurtech startup Turtlemint has raised $120 million in a Series E funding round led by Amansa Capital, Jungle Ventures, and Nexus Venture Partners. The round was also attended by new investors Vitruvian Partners and Marshall Wace, along with other existing investors.

This brings the company's total funding since its inception to $190 million. Turtlemint is reportedly valued at over $900 million after the latest funding round. The company plans to use the new funds to expand into new regions, expand its leadership team and strengthen its product lineup.

Turtlemint was founded by Dhirendra Mahyavanshi and Anand Prabhudesai in 2015. It is a digital platform that helps financial advisors understand and distribute insurance to their community of customers. 

It currently has over 160,000 insurance using the Turtlemint platform in more than 15,000 pin codes in India. TurtlemintPro, its advisory app allows empaneled PoSP advisors to fully manage their insurance business with a simple mobile application. 

The app also provides advisory with the ability to build stronger customer relationships by enabling sharing of personalized branded content and quotes. It also provides a mobile-based training and skill development program with its Turtlemint Academy section. 

Recently, it has established itself in the Middle East by providing digital journeys for insurance to banks and other distributors. It is also planning to expand its market in the South Asia markets as well.