Summary:
- Singapore-based insurtech company, bolttech, secures strategic investments from Sumitomo Corporation and Iberis Capital.
- The Series C funding round closes with a total investment of US$147m, valuing the company at US$2.1 billion.
- The partnership with Sumitomo Corporation will enhance bolttech’s platform capabilities and drive global growth to improve insurance accessibility for customers.
Article:
Bolttech Secures Strategic Investments from Sumitomo Corporation and Iberis Capital
Bolttech, a prominent insurtech company based in Singapore, has recently announced the addition of Sumitomo Corporation and Iberis Capital as strategic investors. This significant development comes as part of the company’s successful Series C funding round, which saw a total investment of US$147m and a valuation of US$2.1 billion.
Partnership with Sumitomo Corporation
Sumitomo Corporation’s involvement as a strategic investor has paved the way for a joint venture with bolttech to deliver embedded insurance programs and comprehensive end-to-end services for partners across Asia. This partnership aims to enhance the company’s platform capabilities and accelerate its global growth strategy.
Driving Insurance Accessibility and Personalization
Led by Group Chief Executive Officer Rob Schimek, bolttech operates as a distribution platform for property and casualty (P&C) insurance. Through its tech-enabled exchange of insurance products, bolttech collaborates with leading insurers in the United States to provide a wide range of insurance solutions to businesses and customers.
The company’s focus on making insurance more personalized, accessible, affordable, and convenient for customers underscores its commitment to innovation and customer-centricity.
Overall, bolttech’s recent strategic investments and partnerships signal a new chapter of growth and innovation in the insurtech industry, positioning the company as a key player in driving insurance accessibility and digital transformation.
Source: Bolttech Official Website
