BackBack Jungle Ventures leads $46 million round in Turtlemint

InsurTech platform Turtlemint said it has raised funding from Singapore-based Jungle Ventures, its first investment in the category, bringing the startup’s Series D fundraising to a close at $46 million. The funds will be used to boost insurance distribution and innovation in India, the company said in a statement.

“This is our first investment in the Insurance tech space in India and we are very excited to partner with the team at Turtlemint. Micro entrepreneurs are the backbone of the Indian economy and we see Turtlemint playing a huge role in making them more digitally inclusive. India lags behind in improving the depth and breadth of insurance coverage and the recent initiatives by the government are in the right direction," said Amit Anand, Founding Partner, Jungle Ventures.