Turtlemint’s B2B vertical Turtlefin has acquired insurtech SaaS startup Last Decimal for an undisclosed amount.
Decimal is a SaaS-based insurtech platform that assists insurance companies in expanding their reach and revenue in the aforementioned segment. With the addition of Last Decimal’s existing customers, the acquisition will assist Turtlefin in expanding its bancassurance business. A bancassurance business connects banks with insurance companies, assisting these companies in selling products and services to the bank’s customers. The startup claims to be working with Indian and Middle Eastern banks, insurers, brokers, and ecommerce players. According to a report, the country’s insurtech sector is anticipated to have a market opportunity of $616 billion by 2025.