Turtlemint Fintech files confidential DRHP with SEBI for IPO
Turtlemint Fintech files confidential DRHP with SEBI for IPO
It has partnered with over 42 insurer partners and over 430,000 trained insurance advisors
Turtlemint Fintech Solutions has announced that it has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) and the stock exchanges.
However, the company clarified, “The filing of the pre-filed DRHP shall not necessarily mean that the company will undertake the initial public offering.”
Turtlemint is a technology-driven intermediary, linking customers, insurance advisors, and insurance companies for the distribution of health, life, and motor insurance products. It also provides access to other financial products, including mutual funds and loans.
Founded in 2015 by Dhirendra Mahyavanshi and Anand, who identified the emergence of mobile phones and the internet as an opportunity to bring insurance to the masses, the firm is backed by PE firms, including Peak XV, Nexus Venture Partners, Amansa Capital, and Jungle Ventures.
The insurance distribution platform facilitated the distribution of over 1.6 crore insurance policies across 19,105 pin codes through a network of over 400,000 point of sales persons during the fiscal years 2023-2025.
