Turtlemint expands its footprint with new office in Mumbai
JLL found the ideal space in Andheri for the insuretech startup
Location
Mumbai
Value
Enhanced employee flexibility
Challenge
The aftermath of the pandemic has brought with it an acute shortage of good quality and stable office buildings. As a result, multiple companies have an eye on these types of premises, leading to high prices for great areas.
One such company was Turtlemint, an insuretech platform that has seen an exponential growth since its inception in 2015. Turtlemint is operating on a unique model bridging the traditional and new age way of selling insurance with its wide network of over 250,000 insurance advisors (PoSPs). As they inch closer to becoming a unicorn, the company wanted to move to a bigger space to cater to the increasing number of employees.
Approach
JLL interacted with key people from the company to get a good understanding of what the company’s vision for the new office was. Our office leasing advisory team used their expertise to help the client find a marquee asset that would in turn expand their presence in Andheri.
With multiple site visits and in-depth analysis, our team was instrumental in identifying a unique solution. We were successful in getting our client competitive rentals in a good quality building in a great corporate area.
Results
JLL successfully helped a company set up in an exemplary premises in Andheri
We showcased our capabilities and established our presence in a marquee asset, that could result in multiple businesses in the future
We achieved rentals that were lower than the market rate along with a lower escalation rate
