Rob Schimek, bolttech's Group Chief Executive Officer, said, "Having just celebrated our third anniversary since our launch in 2020, we are incredibly proud of what we have achieved so far on our mission to build the world's leading, technology-enabled insurance ecosystem. In addition, the funds will be used to explore inorganic opportunities to accelerate international growth.
Round backdrop series#
bolttech's Series B fundraise is the largest straight equity Series B for an insurtech in the last year, and follows the company achieving the largest ever Series A round for an insurtech in 2021.īolttech will use the proceeds of the Series B to further fuel its organic growth, including investments in proprietary technology, digital capabilities for business partners and end consumers as well as talent across bolttech's 30+ markets. International insurtech bolttech is defying the current capital markets backdrop - mega-round funding ( US$100 million and above) for the global insurtech sector is at its lowest level since Q1 2020, according to a Gallagher Re report. Other key investors include global life insurance giant MetLife through its subsidiary MetLife Next Gen Ventures, Malaysia's sovereign wealth fund Khazanah Nasional, as well as new and existing shareholders. The round was led by Tokio Marine - Japan's first insurance company with a 140-year history. SINGAPORE, /PRNewswire/ - bolttech today announced it raised US$196 million in connection with its Series B with an up-round valuation of US$1.6 billion. New investor including MetLife and Khazanah Nasional alongside existing and new shareholders, join Series B funding round led by Tokio Marine
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