bolttech Now Valued at US$1.5 Billion With Series B Led by Tokio Marine

bolttech Now Valued at US$1.5 Billion With Series B Led by Tokio Marine

by October 17, 2022

Singapore-based insurtech firm bolttech announced that Japanese multinational insurance holding company Tokio Marine, alongside other shareholders, will lead its Series B funding round. The sum was not disclosed.

According to bolttech, this financing round will push its valuation to approximately US$1.5 billion. This announcement comes one year after it closed its US$247 million Series A.

Tokio Marine’s partnership as a strategic investor will complement bolttech’s capabilities and reach, enhancing its distribution strength, product innovation, and balance-sheet capacity.

bolttech said that the proceeds of the Series B will be used primarily to fuel the business’ continued global growth.

The company is a global B2B2C insurtech with licenses to operate in more than 30 markets throughout Asia and Europe and all 50 U.S. states.

bolttech added that it now quotes approximately US$50 billion worth of annualised premiums through its technology-enabled insurance exchange.

Earlier this month, bolttech completed the acquisition of a majority shareholding in Axle Asia, an insurance broker in Indonesia.

Rob Schimek, bolttech’s Group Chief Executive Officer

Rob Schimek

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

“Securing a lead investor of Tokio Marine’s high caliber and esteem is strong validation of international investors’ belief in the resilience of bolttech’s business model, our long-term value proposition, and our role in shaping the future of insurance distribution.


Tokio Marine will be a pivotal strategic partner as we continue to accelerate our growth strategy and global expansion.”

Masashi Namatame

Masashi Namatame

Masashi Namatame, Managing Executive Officer and Group Chief Digital Officer at Tokio Marine said,

“Tokio Marine is excited to have the opportunity to lead bolttech’s Series B round, and join bolttech on its incredible growth trajectory as their strategic partner.


The scale and breadth of bolttech’s platform, coupled with its industry-leading tech and digital capabilities, and extensive insurance experience, uniquely positions the company as a clear leader within the insurtech space.”