Online insurance platform Turtlemint raises venture capital from Nexus, Blume

8th Feb 2016
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Online insurance platform Turtlemint has raised an undisclosed amount from Nexus Venture Partners and Blume Ventures. Turtlemint follows an online-offline model and provides recommendations 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.

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Image: Shutterstock

The company will use the funds to further scale up its technology and operations, it said. "This network fills a critical gap in customer servicing for majority of online customers who research online but buy offline. We plan to expand to 100+ cities in the next few months," Turtlemint co-founder Anand Prabhudesai said.

The company plans to add life insurance and other products during the year. The Mumbai-based startup offers customers a choice of several policies from over 15 insurers for vehicle, two-wheeler, and health insurance categories.

Turtlemint was founded in 2015 by Dhirendra Mahyavanshi and Anand Prabhudesai, both of whom were previously a part of the management team at Quikr, and have held operational roles in companies such as ICICI Lombard, Yahoo, eBay and Nokia.

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