bolttech Extends Series B with US$50M from LeapFrog Investmentsby Fintech News Singapore September 21, 2023
Insurtech company bolttech announced that it has raised US$50 million from LeapFrog Investments, an impact investment firm.
This investment is an extension of bolttech’s Series B funding round, which now totals US$246 million.
bolttech said that it will use the fresh funds to support its global growth strategy, with a focus on emerging markets, and to expand its technology-enabled ecosystem for protection and insurance for emerging consumers.
The insurtech will also leverage LeapFrog’s extensive track record with tech-enabled insurance businesses in Africa and Asia to help target its products to this growing market.
Additionally, bolttech will be appointing Fernanda Lima, Partner and Co-Head of LeapFrog’s Asia Financial Services team to its Board as a Non-Executive Director.
Rob Schimek, Group Chief Executive Officer of bolttech said,
“We see LeapFrog’s investment as a strong validation of our unique business proposition as we continue to build a better insurance experience and ensure people, especially those in emerging markets, get the protection that they need.
We also welcome Fernanda, who will bring an invaluable depth and breadth of diverse experience to our Board.”
Fernanda Lima shared:
“bolttech shares LeapFrog’s vision of making essential financial solutions more affordable and accessible, especially for the many emerging consumers in growth markets. There is so much to be done to close the protection gap, particularly in emerging Asia, Latin America and Africa.
It is my privilege to take on this role and I am excited to draw upon my experience and work with the other members of the Board to steer bolttech towards its goals.”