Insurance technology firm bolttech has secured an additional $30 million after extending its recently announced $180 million series A funding round, which was led by Activant Capital Group.
The extended funding round saw the addition of two new strategic investors, Singapore-based global investor EDBI and Alma Mundi Insurtech Fund, Spain (Mundi Ventures).
The additional capital will help bolttech further enhance its technology and digital capabilities, while also helping to strengthen its presence in Southeast Asia, Europe, and its other existing markets.
“We are thrilled to welcome such high calibre strategic investors,” said bolttech CEO Rob Schimek. “They bring an extensive network and deep expertise in their respective markets which will help propel our growth and support our innovation for our partners and customers around the world.”
“Together with their partnership, we look forward to accelerating our international growth and realising our vision to connect more people around the world with ways to protect the things they value.”
Chu Swee Yeok, CEO and President of EDBI, also commented “With an extensive technologyenabled insurance exchange and distribution network, bolttech is poised to lead the digital transformation of Southeast Asia’s insurance sector. EDBI looks forward to partnering Rob and his team to strengthen their innovation hub in Singapore and support the growth of their businesses in the region.”
Javier Santiso, Mundi Ventures’ CEO and General Partner, added, “We value investment partners such as bolttech that are willing to disrupt the insurance industry with new technologies and product innovation, and particularly new, game-changing distribution models. We look forward to working with Rob and his world-class team as they build-out their presence and partnerships here in Europe.”