Insurtech platform bolttech today announced a Series C funding round led by Liquidity and MUFG’s Dragon Fund.
Investors such as Baillie Gifford and Generali (through Lion River, the group’s company dedicated to private equity), among the few, also participated in the funding round that is expected to total more than US$100 million.
Following the company’s Series A and B rounds, this Series C up-round values bolttech at US$2.1 billion.
The investment aims to further enhance its global growth strategy.
According to a press statement, the strategic support of lead investor Dragon Fund, alongside the follow-on investors and the Series C funding, will enable bolttech to continue to enhance its platform’s capabilities.
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It will also expand the company’s market presence globally, accelerating its goal of making insurance more tailored, accessible, affordable, and convenient for customers.
Dragon Fund CIO Ridhi Chaudhary will join the company’s Board of Directors following the investment.
Rob Schimek, Group Chief Executive Officer, bolttech, said, “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.”
bolttech currently serves customers in more than 35 markets across Asia, Europe, North America, and Africa.
Before this, the company announced the participation of impact investor LeapFrog Investments with a US$50 million investment.
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Image Credit: bolttech
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