Turtlemint is a tech-enabled insurance distribution platform that connects customers, insurance advisors, and insurers. In 2015, the company became the first to adopt the point-of-sale person (“PoSP”) distribution model and, as of March 31, 2025 and September 30, 2025, it maintains the largest certified PoSP network among its peer group. Between April 1, 2022 and September 30, 2025, Turtlemint facilitated the distribution of 19.68 million insurance policies, generating Platform Premiums amounting to ₹90,249.11 million across 19,153 pin codes. This represents 97.80% of India’s total 19,583 pin codes, according to the Redseer Report (August 2025). As of September 30, 2025, Turtlemint had onboarded and empowered a geographically diversified base of 603,302 Digital Partners, including 484,832 PoSPs. All Digital Partners completed mandatory training and obtained the requisite certification
Weak fundamentals and premium/expensive valuation
Turtlemint Fintech Solutions is a tech-enabled insurance distribution platform with a large certified PoSP network, but its financials show consistent losses.
The company's financials are a concern with consistent losses and high negative PAT margins, indicating a high risk.
Some data points such as face value, issue type, and pre-issue shares are missing or stale, which may impact the analysis.
+-3.3%
Overall demand
Retail Queue
Institutional Queue
Non-Institutional
Subscribed
Turtlemint is a tech-enabled insurance distribution platform that connects customers, insurance advisors, and insurers. In 2015, the company became the first to adopt the point-of-sale person (“PoSP”) distribution model and, as of March 31, 2025 and September 30, 2025, it maintains the largest certified PoSP network among its peer group. Between April 1, 2022 and September 30, 2025, Turtlemint facilitated the distribution of 19.68 million insurance policies, generating Platform Premiums amounting to ₹90,249.11 million across 19,153 pin codes. This represents 97.80% of India’s total 19,583 pin codes, according to the Redseer Report (August 2025). As of September 30, 2025, Turtlemint had onboarded and empowered a geographically diversified base of 603,302 Digital Partners, including 484,832 PoSPs. All Digital Partners completed mandatory training and obtained the requisite certification
Banking And Finance - FinTech
High growth industry driven by energy transition and carbon mitigation.
Promoters group
Promoter Group holds 72.21% of pre-issue capital.
| Financial Year | Revenue (₹ Cr) | EBITDA Margin (%) | PAT (₹ Cr) | ROCE (%) | ROE (%) | Debt / Equity (x) |
|---|---|---|---|---|---|---|
| FY24 | ₹78.64 Cr | -252.71% | ₹-193.35 Cr | 0.00% | -34.29% | 0.00x |
| FY25 | ₹662.71 Cr | -26.57% | ₹-194.10 Cr | 0.00% | -47.29% | 0.00x |
| Sep-25 | ₹463.34 Cr | -16.63% | ₹-125.15 Cr | 0.00% | -37.93% | 0.00x |
| Company | P/E (x) | ROE (%) | Revenue CAGR (3Y) | EBITDA Margin (%) | Market Cap (₹ Cr) |
|---|---|---|---|---|---|
| Turtlemint Fintech Solutions (IPO) | -32x | -37.93% | -30.1% | -16.6% | -- |
| Groww - | 40.79x | -- | -- | -- | ₹5,426.4 Cr |
| One 97 | -- | -- | -- | -- | ₹5,344.8 Cr |
| One Mobikwik | -86.75x | -- | -- | -- | ₹2,053.2 Cr |
| Onemi Technology | 10.84x | -- | -- | -- | ₹3,119.805 Cr |
| PB Fintech | -- | -- | -- | -- | ₹1,426.38 Cr |
| Pine Labs | 1325.57x | -- | -- | -- | ₹2,771.595 Cr |
Subscription Trend (Times)
GMP Trend (₹)
Ideal for investors who:
