Mumbai Based Online Insurance Platform Turtlemint Raises $30 Million Funding
Turtlemint, a Mumbai-based online insurance platform, has raised $30 million (Rs 225 crore) in a new funding round led by GGV Capital.
Existing investors, including Sequoia Capital India, Nexus Venture Partners, Dream Incubator, Blume Ventures, and Trifecta Capital, participated in the round.
The round also saw the participation of some new investors like American Family Ventures, MassMutual Ventures and SIG.
As per an official statement, Turtlemint plans to use the funds to grow its network of advisors and improve its technology stack.
All improvements are aimed to further better the experience for consumers.
Started by Dhirendra Mahyavanshi and Anand Prabhudesai in 2015, Turtlemint is an online insurance platform that presently offers car insurance, bike insurance, health insurance & term life insurance.
The deep tech platform helps advisors educate customers and recommend products that are best suited to meet their requirements, thus enabling them to purchase insurance seamlessly.
Talking about the startup, Dhirendra Mahyavanshi said,
“For over five years, Turtlemint, through its PoSP (Point of Sales Person) model, has been empowering insurance advisors in 5,000+ metros, cities, and towns across India. Apart from the ease of doing business, sales growth is crucial for an advisor. The Turtlemint platform enables this through tools like a mobile CRM to manage customers, a repository of video content that they can use for customer education, and social media marketing features for driving insurance awareness.”
Claiming to partner with 40+ insurers, Turtlemint serves more than 1.5 million customers.
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