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Turtlemint emerges from its shell seeking opportunities beyond insurance; bulks up for acquisitions

LivemintLivemint · 1y ago
Turtlemint emerges from its shell seeking opportunities beyond insurance; bulks up for acquisitions
Medial

Invictus Insurance Broking Services, the parent company of Turtlemint Insurance Services, is diversifying its revenue streams by venturing into adjacent financial services and exploring acquisitions. The company aims to expand its offerings beyond core insurance through its insurtech platform. It plans to enter new geographies, such as South-East Asia, through acquisitions and is actively seeking opportunities. Turtlemint has maintained profitability and is now focusing on building adjacencies, including mutual funds, loans, and enterprise services. Invictus aims to provide comprehensive financial solutions and achieve profitability in each of its emerging businesses within 2-3 years.

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Turtlemint receives SEBI nod for IPO

EntrackrEntrackr · 12d ago
Turtlemint receives SEBI nod for IPO
Medial

Insurtech firm Turtlemint has received approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO), according to the processing status updated by the market regulator on its website on December 12, 2025. The company pre-filed its Draft Red Herring Prospectus (DRHP) through the confidential route in May 2025, reportedly planning to raise up to Rs 2,000 crore through IPO. Founded in 2015 by Dhirendra Mahyavanshi and Anand Prabhudesai, Turtlemint operates a marketplace connecting advisors with customers, offering insurance products across motor, health, and life categories. It also provides access to other financial products such as mutual funds and loans, while equipping advisors with digital tools to expand their reach and grow their business. Turtlemint is expanding its enterprise offerings via its SaaS arm, Turtlefin (Fintech Blue Solutions Pvt Ltd), to serve banks, NBFCs, and e-commerce companies. According to startup data intelligence platform TheKredible, Turtlemint has raised $190 million to date and was valued at around $900 million in its last $120 million funding round in April 2022. Nexus and Peak XV are the largest shareholders, holding 24% and 20.83% stakes, respectively. For the fiscal year ended March 2025, the Peak XV-backed company reported a 33% year-on-year increase in revenue to Rs 675 crore. At the same time, the firm slipped into losses, with a net loss of Rs 47 crore during FY25. In the insurance segment, PolicyBazaar parent PB Fintech and Go Digit General Insurance are the key listed players, while Acko is targeting a 2027 listing.

Dailyhunt parent ‘hungry’ for acquisitions to drive core business growth

LivemintLivemint · 1y ago
Dailyhunt parent ‘hungry’ for acquisitions to drive core business growth
Medial

VerSe Innovation, the parent company of Dailyhunt and Josh, is actively seeking acquisitions to expand its user base, diversify content offerings, and explore monetization opportunities. The company recently acquired US-based subscription service Magzter to enter international markets and the premium subscription segment. VerSe Innovation aims to finance acquisitions using its existing cash reserves, with over $100 million in dry powder. The company has also seen steady revenue growth from online advertising and subscriptions, while its short-video app, Josh, achieved an annual recurring revenue of $100 million. VerSe is targeting acquisitions to strengthen its core business and drive growth.

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