Bolttech has secured over USD $100 million in Series C funding led by Dragon Fund, with participation from Baillie Gifford and Generali’s Lion River. This latest round values the global insurtech company at USD $2.1 billion.
The funds will be directed towards enhancing Bolttech’s platform capabilities. This will help in expanding its global market presence, and driving innovation in embedded insurance.
Embedded insurance integrates coverage into the purchasing journey, providing a more convenient alternative to traditional models. Operating across 35 markets, Bolttech connects insurers, distributors, and customers through customised solutions.
Dragon Fund’s Managing Director, Aakash Tulsani, highlighted Bolttech’s success in addressing a USD $70 billion global market for embedded insurance.
Consequently, Rob Schimek, Group CEO, stated that the investment will further the company’s mission to leverage technology to simplify insurance and improve customer experiences.
The Series C funding builds on Bolttech’s prior successful rounds, which established its strong growth foundation. Support from investors like Baillie Gifford and Generali underscores confidence in the company’s vision. Generali’s backing through its Lion River investment arm and Baillie Gifford’s recognition of long-term potential validate Bolttech’s innovative approach.
Looking ahead, Bolttech plans to deepen its presence in existing markets and explore new opportunities in untapped regions. By focusing on accessibility and affordability, Bolttech aims to reshape the insurance industry globally.
The Series C funding round that Bolttech achieved marks a pivotal step, equipping the company to continue driving change in the evolving insurtech sector.
Featured image credit: Edited from Freepik
