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Insuretech platform Turtlemint raises USD 30 million

·1-min read

Mumbai, Nov 18 (PTI) Insuretech platform Turtlemint on Wednesday said it has raised USD 30 million (Rs 225 crore) in a round led by GGV Capital.

New investors American Family Ventures, MassMutual Ventures and SIG, along with existing investors Sequoia Capital India, Blume Ventures, Nexus Venture Partners, Dream Incubator and Trifecta Capital also participated in the round, the company said in a release.

The funds raised will be utilised to bolster the product/platform by investing in technology solutions, significantly scale geographic penetration in tier II/III towns and upskill advisors and customers through training and content, it said.

The company is a deep tech platform that helps advisors educate customers and recommend products that are best suited to meet their requirements, enabling them to purchase insurance seamlessly.

Turtlemint co-founder Dhirendra Mahyavanshi said for over five years, the company through its PoSP (Point of Sales Person) model has been empowering insurance advisors in over 5,000 metros, cities, and towns across the country.

“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,” Mahyavanshi said.

Commenting on the development the company's co-founder Anand Prabhudesai said: “Our target is to create a million successful financial entrepreneurs over the next 3-5 years. We are thankful to our investors who have joined with us in this journey and encouraged us to dream big.” Started in April 2015, the platform has partnered with over 40 insurers and serves more than 1.5 million customers from quote to claims. PTI HV SHW SHW