Turtlemint, a Mumbai, India-based insurtech platform, secured USD 30m (INR 225 Cr) in funding.
The round wasled GGV Capital with participation from American Family Ventures, MassMutual Ventures, SIG Ventures, and existing investors Sequoia Capital India, Blume Ventures, Nexus Venture Partners and Trifecta Capital.
The company intends to use the funds to bolster the platform by investing in tech solutions, scale geographic penetration in tier 2/3 towns and upskill advisors and customers through training and content.
Launched in 2015 by Dhirendra Mahyavanshi and Anand Prabhudesai, Turtlemint provides a tech platform that enables advisors to educate customers and recommend the products that are best suited to meet theie requirements and enables them to acquire insurance covers quickly. The company offers several products and a recommendation app and allows for instant online issuance.
The platform currently partners with 40+ insurers, and serves more than 1.5 million customers from quote to claims.