Turtlemint Fintech Solutions Limited IPO

Incorporated in 2015, Turtlemint Limited is a technology-enabled insurance distribution platform that connects customers, insurance advisors (Digital Partners), and insurers through a phygital (physical + digital) model. The company was among the first to adopt the Point-of-Sale Person (PoSP) distribution model and has built India's largest certified PoSP network among its peer group. Turtlemint offers a comprehensive platform that enables Digital Partners to compare, recommend, and distribute insurance products from multiple insurers while managing customer acquisition, policy servicing, claims support, training, and lead management. The platform provides access to life, health, motor, and other insurance products through partnerships with 45 insurer partners. The company has facilitated the distribution of over 21.87 million insurance policies between April 2022 and December 2025, generating platform premium of over ₹10,066 crore across 19,171 pin codes, covering nearly 98% of India's pin codes. Turtlemint has a network of 6.32 lakh+ Digital Partners, including over 5.07 lakh certified PoSPs, supported by its proprietary advisor app, Turtlemint Pro. Turtlemint has a strong presence in India's B30+ markets (cities beyond the top 30 by population), where over 80% of its Digital Partners are based. The company leverages AI-driven technology, mobile-first tools, and a large physical advisory network to improve insurance accessibility, customer experience, and insurance penetration across India. As of December 31, 2025, the company employed 2,348 permanent employees across sales, technology, product development, and corporate functions. Key Strengths Leading position in India's PoSP-based insurance distribution ecosystem. Largest certified Digital Partner and PoSP network among peers. Partnerships with 45 insurer partners offering a wide product portfolio. Strong presence in underserved B30+ markets across India. Scalable technology-driven phygital distribution model. AI-powered platform supporting customer acquisition, servicing, and claims management. Strong network effects driven by Digital Partners and insurer relationships. Consistent growth in platform premium and earnings. High Digital Partner retention and favorable unit economics. Experienced promoter-led management team backed by marquee investors.

Expenditure towards cloud and server related infrastructure of the Company Salary expenditure towards the technology and product development teams of the Company Expenditure towards marketing initiatives by the Company Expenditure towards lease payments for existing properties of the Company and wholly owned Subsidiary, TIB, breakup of which is as follows: Expense by the Company Expenditure towards lease payments for existing properties of thr Company and wholly owned Subsidiary, TIB, breakup of which is as follows: Expense by wholly owned Subsidiary, TIB Investment in wholly owned Subsidiary, TIB, for funding its working capital requirements Funding inorganic growth through unidentified acquisitions and strategic initiatives and general corporate purposes Total