Turtlemint

Company & Role

info
Company Link https://www.turtlemint.com/
Industry Insurtech
About
Turtlemint is an insur-tech platform that identifies and purchases appropriate insurance policies for
consumers. Turtlemint makes it easy to understand and buy insurance. The intent is to “demystify”
insurance by explaining the jargon in a simple way and providing smart tools to help a user make
the right choice. From search to purchase, the entire process can be completed online in just a few
clicks. They also have a team of insurance advisors available on chat, phone and in-person to help
users with purchase and claim services. The company offers car insurance, bike insurance, health
insurance, and term life insurance.

It was founded in 2015 and is based in Mumbai. They have 40 Lakh+ customers and has an app
which allows for viewing all policies in one app, access claims, consult experts in one single place.
IRDA stands for the Insurance Regulatory and development Authority. It is the apex regulatory
body of insurance in India.

Funding raised:
Insurtech startup Turtlemint has raised $120 million led by Amansa Capital, Jungle Ventures and
Nexus Venture Partners, the company in their Series E round in 2022. The online platform for
buying insurance has closed the current financing round at a $900-950 million valuation

Turtlemint intends to use the fresh funds to expand in new geographies, scale its leadership team
and strengthen its product line. The company has raised $190 million to date, including this current
round. Turtlemint said it will look to expand into new geographies, like Southeast Asia. Recently it
expanded into the Middle East.
The insurance startup has on board 160,000 insurance advisors across 15,000 pin codes in India.

Products:
• Car insurance
• Bike insurance
• Health insurance
• Term life insurance
HQ Mumbai
Vision A turtle shell is a metaphor for security and safety. That’s what insurance is all about. A turtle is
a symbol of wealth & long life in Indian and Eastern mythology. That’s what we wish our
customers.

Mint is for our hard-earned money; we seek to protect and grow. Mint is for a fresh approach
to help people achieve financial freedom.
 Mission To bring complete transparency to insurance buying is our mission. We believe a smart customer is
a happy customer
Values Transparency is a core value of our culture, It helps us move fast.
Founder 1. Dhirendra Mahyavanshi (Co-Founder & CEO)
2. Anand Prabhudesai (Co-Founder)

Roles Ops and Strategy

Recent News

Insurtech orchestrating great change, integral for sector growth -

https://bfsi.economictimes.indiatimes.com/news/fintech/insurtechs-orchestrating-great-change-
almost-integral-for-sectoral-growth-turtlemint-ceo/92859670

Turtlemint’s Turtlefin Acquires Insurtech SaaS Startup Last Decimal -

https://inc42.com/buzz/turtlemints-turtlefin-acquires-insurtech-saas-startup-last-decimal/
https://www.vccircle.com/turtlemints-arm-snaps-up-bengaluru-insurtech-firm-in-debut-deal
Turtlemint’s revenue nears Rs 100 Cr in FY22, profit surges 4.4X -
https://entrackr.com/2022/11/turtlemint-revenue-nears-rs-100-cr-in-fy22-profit-surges-4-4x/
Empowering a Million Financial Entrepreneurs: Turtlemint’s Journey in Revolutionizing the Indian
Insurance Landscape - https://www.cxotoday.com/interviews/empowering-a-million-financial-
entrepreneurs-turtlemints-journey-in-revolutionizing-the-indian-insurance-landscape/

TEAM DISHA | IIML