Turtlemint’s revenue nears Rs 100 Cr in FY22, profit surges 4.4X

Insuretech platform Turtlemint raised a $120 million worth Series E round at the start of the ongoing fiscal year (FY23). That investment also put it on the soonicorn list —startups that are close to achieving the unicorn valuation—as the company’s valuation reportedly soared to over $900 million. Meanwhile, the company’s financials have also grown, albeit not as much as expected.

Turtlemint’s operating revenue grew 57% in FY22 to Rs 99 crore even as profit surged 4.4X as compared to the previous fiscal year, according to its annual financial statements with the Registrar of Companies (RoC).