Bolttech Secures $100M in Series C, Reaches $2.1B Valuation

Singapore-based insurtech unicorn Bolttech has raised over $100 million in a Series C funding round led by Dragon Fund and managed by Liquidity Group and Mitsubishi UFJ Financial Group (MUFG). Prominent investors such as Baillie Gifford and Generali, through its private equity arm Lion River, also participated in the round.

The capital will be used to strengthen its platform capabilities, accelerate global market expansion, and drive innovation in embedded insurance solutions.

Bolttech plans to use the funds from its Series C round to further enhance its platform capabilities. This will enable the company to expand its global footprint and continue its mission of making insurance more personalized, accessible, and cost-effective. This strategic investment is expected to strengthen its technology-enabled ecosystem and drive innovation in embedded insurance solutions. The company operates across more than 35 markets, spanning North America, Europe, Asia, and Africa, linking insurers, distributors, and customers through its digital platform.

“This latest round of funding is an endorsement of our value proposition and marks another significant milestone for Bolttech,” said Rob Schimek, Group CEO of Bolttech. He added that the investment from Dragon Fund and other investors will further enable the company to boost the insurance industry through its technology-driven platform.

Ridhi Chaudhary, Dragon Fund’s Chief Investment Officer, expressed confidence in Bolttech’s capabilities, noting that the firm has rapidly established itself as a leading player in the embedded insurtech space. 

She emphasized the company’s strong execution and global presence, adding that she looks forward to supporting Bolttech’s growth as a board member. Aakash Tulsani, Managing Director at Dragon Fund, also praised the company’s differentiated technology, which integrates insurance coverage directly into customer purchase journeys, making products more affordable and tailored to individual needs.

Dragon Fund, launched in 2023, is an equity investment platform that targets growth-stage technology companies globally. By leveraging Liquidity’s proprietary technology and MUFG’s expansive global network, Dragon Fund aims to identify and support promising tech-driven businesses. 

In its partnership with Bolttech, the fund has reinforced its belief in the company’s ability in the embedded insurance sector. Hendrik Borginon, Investment Manager at Baillie Gifford, showed confidence in Bolttech’s growth, praising the company’s approach to integrating insurance products seamlessly into distribution networks.

The company is focused on making insurance more accessible and affordable, leveraging technology to transform how insurance is bought and sold globally. With the backing of investors like Baillie Gifford, Dragon Fund, and others, Bolttech is well-positioned to lead the way in reshaping the future of the global insurance industry.