India-based insuretech firm Turtlemint has opened its first office in Dubai, United Arab Emirates. The opening follows the completion of a recent $120m Series E funding round led by Amansa Capital, Jungle Ventures and Nexus Venture Partners.
The new branch will allow Turtlemint to better target the growing Middle East and north Africa region. The company also plans to hire multiple staff in 2023 to strengthen its operations in the region.
In a press release, co-founder Dhirendra Mahyavanshi commented: “Turtlemint continues with its philosophy of empowering financial advisors and distributors in India. We are going beyond borders with our bouquet of tech solutions to large institutions and with this expansion we are geared to address the rising demand witnessed in the Middle East region, where banks are demonstrating an increased desire to provide superior digital services.”