Singapore’s bolttech raised over $100 M Series C funding from Dragon Fund, MUFG

The Singapore-based insurtech Bolttech has raised more than $100 million in a Series C investment round headed by MUFG and Dragon Fund by Liquidity.

According to a statement released by Bolttech on Friday, investors Baillie Gifford, Generali, and others have joined the round through Lion River, the group’s private equity division.

Bolttech is valued at $2.1 billion in the Series C up-round, which follows its record-breaking Series A and B rounds. The investment will further strengthen Bolttech’s global growth plan.

Bolttech will be able to further develop its platform’s capabilities, increase its market presence internationally, and expedite its objective of making insurance more customized, accessible, affordable, and convenient for consumers with the strategic backing of lead investor Dragon Fund, follow-on investors, and Series C funding.

Bolttech’s position as a leader in the insurtech industry is further cemented with this investment, which comes after its prior successful funding rounds.

“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,” said Rob Schimek, Group Chief Executive Officer, bolttech.

“With this investment from Dragon Fund and our Series C investors, we will continue to revolutionize the future of insurance through our leading technology-enabled ecosystem,” he added.

Bolttech is a global insurtech company that seeks to create an ecosystem for insurance and protection that is enabled by technology.

The company provides services to clients in over 35 markets across North America, Europe, Asia, and Africa.

Bolttech’s digital and data-driven capabilities facilitate the exchange of insurance and protection products between distributors, clients, and insurers.

Dragon Fund’s Chief Investment Officer, Ridhi Chaudhary, stated that the company is impressed by Bolttech’s technological capability and execution.

“In a short time, bolttech has become a leading, embedded insurtech player with global presence and scale,

“I look forward to joining the board of directors and supporting its next phase of growth,” she added.