Turtlemint Fintech Solutions files confidential DRHP with SEBI

Synopsis

Turtlemint, an insurtech firm, has submitted IPO papers to Sebi. The company will use the confidential pre-filing route. ICICI Securities and Jefferies India are among the lead bankers. Dhirendra Mahyavanshi and Anand Prabhudesai founded Turtlemint in 2015. The platform simplifies insurance policy purchase. Turtlemint has sold 1.6 crore policies. Several other firms have also opted for confidential filings recently.

Turtlemint Fintech Solutions has filed its confidential Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) and the stock exchanges, according to a public announcement dated September 4, 2025.

"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

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

Also read: IPO-bound Oyo to consider 1:1 bonus issue; unlisted shares rise 25% in 1 month

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