bolttech Explores U.S. IPO, Could Materialise as Early as 2024
by Fintech News Singapore October 18, 2023Insurtech firm bolttech is reportedly mulling over the prospects of a U.S. IPO, aiming to raise a sum in the ballpark of US$250 million and US$300 million, according to Bloomberg.
While discussions are in progress, specifics related to the IPO, including its magnitude and schedule, remain fluid.
However, with the financial endorsement of Richard Li, a magnate from Hong Kong, the company has reached out to banks for proposals which could materialise as early as 2024.
The bolttech has secured US$493 million in funding over 6 rounds since July 2021 from investors such as Japan’s Tokio Marine, global life insurance giant MetLife, Malaysia’s sovereign wealth fund Khazanah Nasional among others.
Just September this year, bolttech had extended its US$196 million Series B by raising an additional US$50 million to chalk up a valuation of US$1.6 billion.
