bolttech Announces Series C Funding Round Led by Dragon Fund
Deal News | Dec 20, 2024 | PR Newswire Cision bolttech
bolttech, a global insurtech company headquartered in Singapore, has announced a Series C funding round led by Dragon Fund by Liquidity and MUFG, alongside investors such as Baillie Gifford and Generali's Lion River. This funding round is expected to raise more than $100 million and values bolttech at $2.1 billion. The investment will assist bolttech in enhancing its platform capabilities, expanding its global market presence, and striving towards making insurance more accessible and personalized. Dragon Fund's CIO Ridhi Chaudhary joins bolttech's board to support this phase of growth. The investment marks another milestone for bolttech, with the company operating in over 35 markets worldwide. This growth is supported by its highly experienced team and strategic approach to embedding insurance solutions in consumer journeys. bolttech's technology-first proposition positions it as a leader in the insurtech market, with significant potential for shaping the future of insurance.
Sectors
- Insurtech
- Venture Capital
Geography
- Singapore – Singapore is highlighted as the headquarters of bolttech, from where the company oversees global operations.
- Global – bolttech operates in over 35 markets spanning Asia, Europe, North America, and Africa, indicating its global operational reach.
Industry
- Insurtech – The article revolves around bolttech, a company operating within the insurtech industry, focusing on integrating innovative technology with insurance services.
- Venture Capital – The involvement of Dragon Fund, a venture capital entity, in leading the Series C funding highlights the role venture capital plays in financing growth-stage tech companies.
Financials
- US$100 million – Expected total investment of the Series C funding round led by Dragon Fund.
- US$2.1 billion – Valuation of bolttech after the completion of the Series C funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| bolttech | Target Company | Company | bolttech is a global insurtech company initiating the Series C funding round. |
| Dragon Fund | Lead Investor | Company | Dragon Fund, by Liquidity and MUFG, leads the Series C funding round. |
| Baillie Gifford | Investor | Company | Baillie Gifford participates in bolttech's Series C funding round. It is an independent investment partnership based in Edinburgh. |
| Generali | Investor | Company | Generali, through its Private Equity arm Lion River, participates in the funding round and has a strong presence in global insurance markets. |
| Ridhi Chaudhary | CIO of Dragon Fund and Board member of bolttech | Person | Ridhi Chaudhary, as CIO of Dragon Fund, expresses enthusiasm about leading the Series C round and joining bolttech's board. |
| Aakash Tulsani | Managing Director at Dragon Fund | Person | As a managing director, Aakash Tulsani comments on bolttech's technological differentiation and growth potential. |
| Hendrik Borginon | Investment Manager, Baillie Gifford | Person | Hendrik Borginon speaks positively about bolttech's role in transforming the insurance industry. |
| Rob Schimek | Group CEO, bolttech | Person | Rob Schimek lauds the Series C funding as validation of bolttech’s value and strategy. |