Bolttech is an international insurtech that brings together people around the world with more ways to protect the things they value. The company connects insurers, distribution partners, and customers to transform the way insurance is bought and sold. Bolttech joined the unicorn club after the Series A round in 2021.
Bolttech has raised $196 million in Series B funding at a valuation of $1.6 billion. The new funding round was led by Tokio Marine, Japan’s first insurance company, and life insurance leader MetLife through its subsidiary MetLife Next Gen Ventures. Other participants included new and existing shareholders, and Malaysia’s sovereign wealth fund Khazanah Nasional.
Bolttech, Singapore, was founded in 2020 by Richard Li. Currently, the company operates an exchange that connects over 700 distribution partners with more than 230 insurance providers offering over 6,000 insurance products. “Having just celebrated our third anniversary since our launch in 2020, we are incredibly proud of what we have achieved so far on our mission to build the world’s leading, technology-enabled insurance ecosystem. We are now one of the fastest growing insurtechs in the world, enabling our partners to find new revenue streams, accelerate their digital transformation, and deepen their customer relationships. We thank all our Series B investors for their support, and we are excited to welcome our new investors, reputable leaders in their respective spaces, and look forward to strong partnerships that will fuel bolttech’s continued growth on our path to profitability in 2024,” said Rob Schimek, bolttech’s Group Chief Executive Officer.