InsurTech startup Turtlemint raised $120 million in a Series E funding round led by Jungle, Amansa, Nexus Venture Partners. The startup plans to utilize the raised funds to expand in new locations, scale and build a strong leadership team, and strengthen its product stack.
Co-founder of Turtlemint Anand Prabhudesai said, “We enable our advisors with various tools to help them build their brand, generate leads, and service customers confidently in a fast-evolving digital world. The newly raised funds will be invested significantly in creating an enhanced customer experience in terms of understanding insurance requirements, managing risks through the right insurance products, and getting a smooth claim experience. ”
He further added that India is at a critical juncture, specifically in terms of demand for health insurance products. As customer continue to seek assistance during purchase and claim process, it is important that the last-mile distribution should be empowered with the latest technology. This is what the company’s online-offline strategy solves for customers.
Turtlemint has raised $190 fund since its inception, including this current round. The startup is looking forward to expanding its presence in new geographies, including Southeast Asia.
