Insurtech startup and soonicorn Turtlemint raises $120M

Turtlemint, an insurtech startup, has raised $120 million in a Series E funding round. The funding round was led by Amansa Capital, Jungle Ventures, and Nexus Venture Partners.

The round brings the total funding raised by the company since its inception to $190 million.

The company is planning to utilize the fresh funding in following ways:

• To expand in new geographies,

• Scale its leadership team and

• Strengthen its product stack.

Turtlemint was founded by Dhirendra Mahyavanshi and Anand Prabhudesai in the year 2015. Turtlemint is a digital platform crafted to help financial advisors understand and allows them to ensure their community of customers. The platform enables financial advisors to instantly compare each customer with a suite of products that are best suited for their unique needs, through a digital solution thereby removing the hassles of paperwork.

The Turtlemint advisor guarantees to have 160,000+ insurance advisors using the platform in 15,000+ pin codes in India. Turtlemint’s advisor app — is branded as TurtlemintPro. Apart from selling a range of products across health, life, PA (personal accident), motor insurance, etc; the app also facilitates advisors to build stronger customer relationships by enabling sharing of personalized branded content and quotes. It also offers an online training and skill development program for advisors through the Turtlemint Academy on the app.

EXECUTIVE OPINION:

Anand Prabhudesai, Co-founder, Turtlemint said, "We enable our advisors with various tools, which help them build their brand, generate leads, and service customers with confidence in an increasingly digital world. With the new funding, we are going to invest significantly in creating superior customer experience when it comes to understanding insurance requirements, managing life-long risks through the right insurance products and getting a smooth claims experience."

Dhirendra Mahyavanshi, Co-founder, Turtlemint said, “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-II, III cities and beyond."

Tags : Turtlemint, StartupsDekho

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Insurtech startup and soonicorn Turtlemint raises $120M

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