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“The filing of the Pre-filed draft red herring prospectus shall not necessarily mean that the company will undertake the initial public offering,” the company, in its public announcement published in a business newspaper, said.
The platform operates as a technology-driven intermediary linking customers, insurance advisors, and insurance companies for the distribution of health, life, and motor insurance products. Additionally, it provides access to other financial products, including mutual funds and loans, through its platform.
About Turtlemint Fintech Solutions
According to company information, Turtlemint was founded in 2015 by Dhirendra and Anand, who identified the emergence of mobile phones and the internet as an opportunity to bring insurance to the masses.\
The company has expanded its offerings through several milestones:
2015: Launch of Turtlemint
2017: Introduction of Turtlemint Pro and Academy
2020: Launch of Grow and Mutual Funds offerings
2021: Introduction of Turtlefin
2023: Addition of Loans services
2025: Described as “The Future” phase
Product development journey
Grow (2020): The company states that with almost everyone in India on mobile internet, this became the platform to find new customers. The Grow offering enabled advisors with multi-media content and tools to market to online audiences and generate leads.
Mutual Funds (2020): The company describes insurance and investments as complementary, with one providing safety during difficult times while the other helps reach financial goals. The mutual funds launch aimed to give advisors a wealth creation product for customers.
Turtlefin (2021): Launched as the company’s enterprise and embedded insurance offering to capitalize on what it describes as the insurance digitization wave affecting banks, fintech, and ecommerce companies.
Loans (2023): The company launched loans and deposits on its Turtlemintpro platform, positioning itself as a comprehensive financial services provider. The company states this development means “Turtlemint Pro has become a financial market super-app” and that advisors’ transition to “full-fledged financial product distributors is now truly underway.”
Future outlook
Looking ahead to 2025, the company expresses intentions to leverage artificial intelligence and emerging technology to enhance advisor capabilities and customer experience in insurance and financial services. The company notes it is “just 10 years young.”
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