Bolttech Secures Over $100 Million in Series C Funding Led by Dragon Fund to Fuel Global Expansion
Bolttech, the rapidly growing global insurtech, today announced that Dragon Fund, backed by Liquidity and MUFG, is leading its Series C funding round, alongside additional investors including Baillie Gifford, Generali through Lion River (its private equity arm), and others. The funding round is expected to exceed US$100 million, bringing the company’s valuation to US$2.1 billion. This latest up-round follows bolttech’s record-breaking Series A and B rounds and will further bolster its global growth strategy.
Driving Innovation and Expansion
“This funding round is a testament to the strength of our value proposition and marks a significant milestone for bolttech,” said Rob Schimek, Group Chief Executive Officer of bolttech. “It also underscores our relentless pursuit of innovation and excellence as we continue to enable transformation within the insurance industry.”
The Series C funding, led by Dragon Fund and supported by Baillie Gifford, Generali, and other investors, will empower bolttech to enhance its platform’s capabilities, expand its global market presence, and accelerate its mission to make insurance more personalized, accessible, affordable, and convenient for customers worldwide. This investment follows bolttech’s previous successful funding rounds, further solidifying its position as a leader in the insurtech space.
Strategic Support and Technology Leadership
Ridhi Chaudhary, CIO of Dragon Fund, expressed excitement about leading the Series C round: “We are thrilled to lead bolttech’s Series C funding. In a short time, bolttech has emerged as a global leader in embedded insurtech, with impressive technology capabilities and execution. I look forward to joining the Board of Directors and supporting the next phase of growth.”
Aakash Tulsani, Managing Director at Dragon Fund, added, “Bolttech’s differentiated technology and program management solution seamlessly integrate insurance into the customer purchase journey, making insurance more accessible and tailored to individual needs. As a technology-first provider, bolttech is well-positioned to lead the future of embedded insurance, a market valued at over $70 billion globally.”
Transforming the Insurance Industry
Hendrik Borginon, Investment Manager at Baillie Gifford, highlighted bolttech’s leadership in the embedded insurance space: “Bolttech is revolutionizing how insurance is bought and sold by enabling the seamless integration of insurance products with distribution partners. With a seasoned leadership team, we are confident in the company’s ability to drive significant growth and profitability in the years ahead.”
Revolutionizing the Future of Insurance
Rob Schimek concluded, “With this Series C funding and the continued support of our investors, we are well-positioned to accelerate our mission to transform the insurance industry. Through our leading technology-enabled ecosystem, we will continue to revolutionize how insurance is delivered, making it more accessible and valuable for customers across the globe.”
This Series C funding round marks a critical step in bolttech’s journey as it continues to shape the future of embedded insurance, leveraging cutting-edge technology to deliver more tailored, cost-effective, and seamless insurance experiences for consumers worldwide.
