Global insurtech bolttech has revealed a new $100 million Series C funding round, led by Dragon Fund, alongside Baillie Gifford and Generali.
According to bolttech, the strategic support of these investors will empower the company to enhance its platform’s capabilities, expand its global market presence, and accelerate its mission to make insurance more personalized and accessible for customers. Following bolttech’s Series A and Series B rounds, the Series C up-round values the firm at $2.1 billion.
Rob Schimek, Group Chief Executive Officer, bolttech, commented, “This latest round of funding is an endorsement of our value proposition and marks another significant milestone for bolttech.
“The funding also demonstrates our relentless pursuit of innovation and excellence as we enable the insurance industry. With this investment from Dragon Fund and our Series C investors, we will continue to revolutionise the future of insurance through our leading technology-enabled ecosystem.”
Ridhi Chaudhary, CIO of Dragon Fund, said, “We are excited to lead bolttech’s Series C round. In a short time, bolttech has become a leading, embedded insurtech player with a global presence and scale. We are impressed by its tech capabilities and execution. I look forward to joining the Board of Directors and supporting its next phase of growth.”
Aakash Tulsani, Managing Director at Dragon Fund, added, “bolttech’s differentiated technology and program management solution integrates insurance into customer purchase journeys, enhancing access to affordable, customized products.
“As a technology-first provider, bolttech is well positioned to shape the future of embedded insurance a $70B+ addressable market globally.”
Hendrik Borginon, Investment Manager, Baillie Gifford, noted, “bolttech is a pioneering force in the embedded insurance space. By enabling seamless integration of insurance products into their distribution partners, bolttech is transforming how insurance is bought and sold globally.
“With a highly experienced team at the helm, we are optimistic about their potential to drive significant growth and profitability in the coming years.”
