Results · Financial Services

Turtlemint Q1 revenue up 40%, loss narrows 19%

By Startup Enthusiast · 14 August 2026

What they do

Turtlemint is an online platform that connects customers, insurance advisors and insurers

In Q1 FY27, revenue rose 40% to ₹294 crore and net loss fell 19% to ₹37.8 crore

The company listed on stock exchanges in June 2026 and reported its first profitable quarter in Q4 FY26

Turtlemint reported Q1 FY27 results with revenue from operations of ₹294 crore, up 40% year-on-year.
Consolidated net loss narrowed 19% to ₹37.8 crore from ₹46.7 crore in Q1 FY26.
Total expenses rose 28% to ₹333.5 crore.
Negative EBITDA improved to ₹31 crore from ₹42 crore a year ago.
Service EBITDA grew 89% to ₹39 crore.
Platform premium (total insurance premium processed) increased 49.8% to ₹1,205 crore.
Renewal revenue jumped 66% year-on-year.
The company listed on NSE and BSE on 29 June 2026 at an issue price of ₹152 per share, listing at a discount.

Turtlemint turned profitable for the first time in Q4 FY26 with a net profit of ₹3.1 crore (including a deferred tax credit).
Q1 is seasonally weak due to cash-burn in digital insurance distribution.
The company targets a long-term EBITDA margin of 18-20%.
IPO proceeds are being used to scale technology assets.

Turtlemint is a tech-enabled insurance distribution platform that connects customers, insurance advisors (called digital partners or POSPs) and insurers.

Peak XV (existing) — Peak XV (formerly Sequoia Capital India) is an investor in Turtlemint.