Insuretech startup Turtlemint has raised $30 Mn in a funding round led by GGV Capital. American Family Ventures, MassMutual Ventures and SIG; existing investors Blume Ventures, Sequoia Capital India, Nexus Venture Partners, Dream Incubator and Trifecta Capital also participated in the round, which brings Turtlemint’s total to-date raise to $55 million.
Turtlemint provides recommendations of insurance to customers based on proprietary algorithms and data analytics and offers a network of offline facilitators to help complete the insurance purchase and provide claims assistance, enabling clients to choose the correct insurance scheme.
“For over five years, Turtlemint through its PoSP (Point of Sales Person) model has been empowering insurance advisors in 5000+ metros, cities, and towns across India. Aside from ease of doing business, sales growth is crucial for an advisor. 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," said Turtlemint co-founder Dhirendra Mahyavanshi in a statement.