bolttech has concluded its Series C funding round with the addition of new strategic investors Sumitomo Corporation and Iberis Capital, bringing total investments in the round to US$147 million.

The global insurtech firm is now valued at US$2.1 billion.

The company had previously announced securing US$100 million for its Series C in December 2024 that was joined by Dragon Fund, Baillie Gifford, and Generali’s Lion River.

In conjunction with its investment, Sumitomo Corporation will enter a joint venture with bolttech.

This partnership aims to provide embedded insurance programs and related services for partners in Asia.

According to bolttech, the funds will be used to improve its platform’s capabilities and advance its global growth strategy, with a goal to make insurance more personalized and accessible.

Rob Schimek, Group Chief Executive Officer, bolttech, said,

“We are delighted to welcome our newest strategic investors Sumitomo Corporation and Iberis Capital as we successfully close our Series C. This investment is a strong endorsement of our unique business proposition, reinforcing our commitment to enabling a better insurance experience for customers worldwide.

We are excited to continue our journey to build the future of insurance, working towards our vision of connecting people with more ways to protect the things they value.”

Featured image: Edited by Fintech News Singapore, based on image by AbulKalamAzad0420 via Freepik