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bolttech announces Series C funding led by Dragon Fund to drive continued expansion | Digital News Asia

bolttech announces Series C funding led by Dragon Fund to drive continued expansion

bolttech announces Series C funding led by Dragon Fund to drive continued expansion

bolttech announces Series C funding led by Dragon Fund to drive continued expansion

  • This Series C up-round values bolttech at US$2.1 billion
  • The funds will help bolttech enhance its platform, expand globally

The bolttech team

bolttech, the fast-growing global insurtech, has announced that Dragon Fund, by Liquidity and MUFG, is leading its Series C funding round. The round includes investors such as Baillie Gifford and Generali, through Lion River, the group’s private equity arm, and is expected to total more than US$100 million (RM451 million).

Following its record-breaking Series A and B rounds, the Series C up-round values bolttech at US$2.1 billion (RM9.4 billion). The funding will support the company’s global growth strategy, enhancing platform capabilities, expanding its market presence, and accelerating its mission to make insurance more tailored, accessible, affordable, and convenient.

[RM1 = US$0.221]

According to bolttech, the strategic support from lead investor Dragon Fund, along with follow-on investors and Series C funding, will enable the company to enhance its platform capabilities, expand its global market presence, and accelerate its mission to make insurance more tailored, accessible, affordable, and convenient for customers. This investment builds on bolttech’s previous successful funding rounds, further solidifying its position as a leader in the insurtech space.

Ridhi Chaudhary, CIO of Dragon Fund, commented, “We are excited to lead bolttech’s Series C round. In a short time, the company has become a leading, embedded insurtech player with 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 programme management solutions integrate insurance into customer purchase journeys, enhancing access to affordable, customised 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 at Baillie Gifford, said, “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.”

Rob Schimek (pic), group CEO of bolttech, remarked, “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.”

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