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Insurtech startup Turtlemint set to become unicorn with $120M funding round

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Turtlemint has secured $120 million in a new funding round. With this, the insurtech startup is set to be become a unicorn.

Turtlemint, an insurtech platform, said on April 29 that it has secured $120 million in a Series E round headed by Amansa Capital, Jungle Ventures, and Nexus Venture Partners. Turtlemint’s valuation has risen to $900 million as a result of the round, bringing it closer to the unicorn status.

Vitruvian Partners and Marshall Wace, as well as other existing investors, participated in the round. This takes the company’s total capital raised since its founding to $190 million.

The additional funds will be used to grow into new markets, scale its leadership team, and enhance its product stack.

After insurance marketplace Policybazaar’s parent company PB Fintech went public in November 2021, media claimed that the insurtech business is aiming for the unicorn label.

Turtlemint, an insurtech platform, said on April 29 that it has secured $120 million in a Series E round headed by Amansa Capital, Jungle Ventures, and Nexus Venture Partners.

Turtlemint’s valuation has risen to $900 million as a result of the round, bringing it closer to the unicorn status.

Vitruvian Partners and Marshall Wace, as well as other existing investors, participated in the round. This takes the company’s total capital raised since its founding to $190 million.

The additional funds will be used to grow into new markets, scale its leadership team, and enhance its product stack.

After insurance marketplace Policybazaar’s parent company PB Fintech went public in November 2021, media claimed that the insurtech business is aiming for the unicorn label. The platform of the firm assists financial advisers in understanding and distributing insurance to their consumer base. It also enables financial advisers to use a digital solution to match consumers with products that are most suited to their needs.

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