Singapore-based insurtech startup Bolttech has successfully closed its Series C funding round, raising an impressive $147 million. This latest financial milestone values the company at a staggering $2.1 billion, reinforcing its position as a leading player in the embedded insurance sector.
The funding round, announced recently, attracted a diverse panel of investors, including new backers such as Sumitomo Corporation and Iberis Capital. This capital injection follows Bolttech's earlier announcement in December 2024 of expecting to raise over $100 million, a target it has now surpassed.
Bolttech specializes in providing technology-enabled embedded insurance solutions, partnering with distribution networks across Asia and beyond. The fresh funds are expected to accelerate the company's expansion and enhance its offerings in the rapidly growing insurtech market.
In addition to the financial boost, Bolttech has been making strategic moves, including a recent joint venture with Sumitomo to deliver device protection solutions throughout Asia. This collaboration underscores the company's commitment to innovation and scalability in the insurance technology space.
The insurtech sector continues to gain traction globally, with Bolttech at the forefront of transforming how insurance is integrated into everyday consumer experiences. The company's valuation growth reflects investor confidence in its business model and future potential in a competitive landscape.
As Bolttech moves forward, industry watchers anticipate further partnerships and technological advancements that could redefine embedded insurance. With this $147 million raise, Bolttech is well-positioned to capitalize on emerging opportunities and solidify its market leadership.
Alfred Lee
