India insurtech Turtlemint nears unicorn status in latest funding round

It recently raised $120m in a Series E funding round.

India insurtech startup Turtlemint has edged closer to the coveted ‘unicorn’ status as it raised $120m in a Series E funding round bringing its total funding to around $900m to $950m, reports said.

The Series E funding round was led by Amansa Capital, Jungle Ventures, and Nexus Venture Partners, with several early investors participating.

Turtlemint aims to use the fresh funds to expand its reach in other markets, particularly in Southeast Asia and the Middle East as well as invest more in its underwriting, distribution, and claims technology.

Founded in 2015, Turtlemint is led by co-founders Dhirendra Mahyavanshi and Anand Prabhudesai. Turtlemint’s platform allows financial advisors to understand the needs of its customers and distribute insurance products to them.

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