bolttech, a Singapore-based B2B2C insurtech company, raised US$196M in Series B funding at US$1.6 Billion valuation.
The round was led by Tokio Marine with participation from MetLife through its subsidiary MetLife Next Gen Ventures, Malaysia’s sovereign wealth fund Khazanah Nasional, as well as new and existing shareholders.
The company intends to use the funds to further accelerate its organic growth, including investments in proprietary technology, in digital capabilities for business partners and end consumers, as well as talent across its 30+ markets, as well as to explore inorganic opportunities to accelerate international growth.
Led by CEO Rob Schimek, bolttech is a global B2B2C insurtech that connects insurers with distributors and their customers. With licenses to operate throughout Asia, Europe and all 50 U.S. states, the company enables businesses to offer insurance products that meet their customers’ evolving insurance and protection needs in the digital age.
bolttech now quotes approximately US$55 billion worth of annualized premiums. Globally, its ecosystem connects 700 distribution partners with more than 230 insurance providers and offers in excess of 6,000 product variations.
FinSMEs
17/05/2023