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Turtlemint Eyes Rs 2,000 Crore IPO After SEBI Nod
16 Dec
Summary
- Turtlemint received SEBI approval for its IPO on December 12, 2025.
- The insurtech firm plans to raise up to Rs 2,000 crore through the IPO.
- Turtlemint reported a 33% revenue increase but slipped into losses in FY25.
Turtlemint, an insurtech company, has received the crucial approval from the Securities and Exchange Board of India (SEBI) to proceed with its Initial Public Offering (IPO). The market regulator updated the processing status on its website on December 12, 2025, marking a significant milestone for the firm. The company had previously submitted its Draft Red Herring Prospectus (DRHP) confidentially in May 2025 and is reportedly targeting to raise approximately Rs 2,000 crore through this public offering.
Founded in 2015, Turtlemint functions as a marketplace that connects insurance advisors with clients, offering a diverse range of products including motor, health, and life insurance. Beyond insurance, it also facilitates access to other financial products like mutual funds and loans. The company empowers advisors with digital tools to enhance their business reach and growth. Furthermore, Turtlemint is extending its enterprise solutions through its SaaS division, Turtlefin, catering to banks, NBFCs, and e-commerce businesses.
In the fiscal year ending March 2025, Turtlemint experienced a substantial 33% year-on-year revenue growth, reaching Rs 675 crore. However, the company reported a net loss of Rs 47 crore during the same period. To date, Turtlemint has successfully raised $190 million, with its valuation standing at around $900 million following a $120 million funding round in April 2022.
