Mumbai: Insurtech platform Turtlemint has closed its Series D round at $46 million with fresh investment from Singapore-based Jungle Ventures.
In November, the Mumbai-based company had raised $30 million in its Series D round led by GGV Capital in participation with American Family Ventures, MassMutual Ventures, SIG, and others.
According to the company, it will deploy the fresh proceeds towards growing its distributor network in the next 18 months, ramping up its reach, building product capabilities, and marketing. Currently, Turtlemint claims to have developed a network of over 100,000 insurance advisers with more than 1.5 million customers in over 5,000 cities.
Founded by ex-Quikr executives Dhirendra Mahyavanshi and Anand Prabhudesai, Turtlemint connects advisors and customers through its marketplace and offers third-party insurance products across categories like vehicle, life, and health. The platform also complements advisors and helps them to grow their reach.