Insurtech Firm Turtlemint Confidentially Files for IPO, Aims to Simplify Insurance

As of September 6th, 2025, the insurtech firm Turtlemint has filed confidential IPO papers with India's market regulator Sebi, indicating its plans to go public. The Mumbai-based startup, founded in 2015 by Dhirendra Mahyavanshi and Anand Prabhudesai, has designed a platform to simplify the purchase and management of insurance policies.

Turtlemint has roped in prominent investment banks ICICI Securities, Jefferies India, JM Financial, and Motilal Oswal to assist with the public offering. The company has opted for the confidential pre-filing route, which allows it to withhold public disclosure of IPO details until later stages, providing greater flexibility in its listing plans.

Over the past seven years, Turtlemint has built a network of over five lakh advisors and sold 1.6 crore insurance policies through its digital solution. The platform helps financial advisors efficiently match customers with suitable products based on their unique needs.

Turtlemint is backed by reputable investors such as Amansa Capital, Jungle Ventures, and Nexus Venture Partners. The confidential filing route has gained traction among Indian firms in recent months, with several other companies, including Shadowfax Technologies and Shiprocket, opting for similar pre-filing approaches.