Singapore’s Bolttech Valued at $2.1 Billion Raises over $100 Million

Singapore – based insurance technology firm bolttech has successfully raised over $100 million in its latest funding round, as announced. Led by Dragon Fund of Mitsubishi UFJ Financial Group and fintech direct lender Liquidity Group, this significant investment will fuel the company’s global growth strategy.

The Series C funding round valued bolttech at $2.1 billion, a 31.3% increase from the $1.6 billion in its May 2023 Series B round. Since its 2020 founding, bolttech has been operating a digital platform across more than 35 markets in North America, Asia, Europe, and Africa. Here, insurers, distributors, and customers buy and sell insurance and protection products.

The latest funding round also saw participation from UK investment management firm Baillie Gifford and insurer Generali’s private equity arm Lion River. Global insurtech investment has been on the rise, reaching $1.38 billion in the third quarter of this year, driven by the growth of artificial intelligence. Bolttech also recently closed a $50 million venture debt facility with HSBC and in September 2023, secured $50 million from impact investment firm LeapFrog. This new injection of funds will further solidify bolttech’s position in the global insurtech landscape.

Related topics

• Allianz May Drop $1.63b Bid for Income Insurance
• QBE Capital Global’s Outlook Stable: Am Best
• Global Health Insurance Market to Reach $6.2t by 2032