Insuretech start-up Turtlemint raises $30m

Insuretech start-up Turtlemint has raised $30 million (Rs 225 crore) in a funding round led by venture capital firm GGV Capital.

New investors American Family Ventures, MassMutual Ventures and SIG, along with existing investors Sequoia Capital India, Blume Ventures, Nexus Venture Partners, Dream Incubator and Trifecta Capital participated in the round.

The funds raised will be used to increase the reach of insurance and financial products by investing in technology solutions, reaching out to tier 2 and tier 3 towns and upskilling advisers through training.

Launched in 2015, the Turtlemint platform currently partners more than 40 insurers, and caters to more than 1.5 million customers.