Turtle mint in talks with global investors for fresh funding at unicorn vlan

• ByStartupStory     |    January 27, 2022

Invictus Insurance broking Services Pvt Ltd, which runs insurtech platform turtle mint, is in discussions with numerous global investors.

Turtle mint has risen fresh funding from Singapore- based Jungle ventures, its first investment in the insurtech category, bringing the start up’s Series D  fund raising to a close at $ 46 million.

Jungle ventures’ portfolio includes internet and software companies such as Moglix and blue- collar workforce management platform better place.

In November, the Mumbai- based insurtech start ups has emerged $ 30 million from GGV capital, American Family ventures, Mass Mutual ventures and SIG, partly the series D round.

Existing investors Blume Ventures, Sequoia Capital India, Nexus Venture Partners, Dream Incubator and trifecta capital had also participated in the round.

Till date turtle mint had risen $ 69 million till date.

The company said it would employed the lastest funding to grow its distributor network in the next 18 months, build up its reach within existing geographies, add new location, build product competencies, also for marketing.

Being Founded in 2015, by Dhirendra Mahyavanshi and Anand Prabhudesai, Turtle mint developed a network over 100,000 insurance acquaintances that boards to more than 1.5 million customers in over 5,000 metro cities and towns.

The company is validating the annual premium run rate of Rs. 1,800 crore in FY21, which is the current financial year.

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