bolttech Expands Global Reach with Series C Funding Led by Dragon Fund
Deal News | Dec 20, 2024 | PR Newswire Cision bolttech
bolttech, a rapidly growing global insurtech company, has announced a successful Series C funding round led by Dragon Fund, a partnership between Liquidity and MUFG. This round, which involves key investors such as Baillie Gifford and Generali through Lion River, aims to raise over $100 million, taking bolttech's valuation to $2.1 billion. The investment will fuel bolttech's strategic initiatives to enhance its technological platform, broaden its global market presence, and realize its mission of making insurance more accessible and tailored for consumers. Dragon Fund's strategic involvement and other investors' participation underpin bolttech's reputation as a leader in embedded insurance. Dragon Fund CIO, Ridhi Chaudhary, and Board Member, Aakash Tulsani, emphasize bolttech's innovative technology and potential for significant future growth. Hendrik Borginon from Baillie Gifford and CEO Rob Schimek of bolttech reinforce the commitment to continuing innovation and transformative impact in the insurance industry. bolttech's advanced digital capabilities allow seamless integration of insurance products, revolutionizing how they are purchased and sold globally.
Sectors
- Insurtech
- Private Equity
- Financial Services
Geography
- Singapore – bolttech is headquartered in Singapore and has announced the funding round from this location.
- Global – bolttech and its investors like Generali have a global presence, indicating a worldwide business and investment focus.
Industry
- Insurtech – The article discusses bolttech, an insurtech company focusing on technological innovations in the insurance sector.
- Private Equity – The funding round for bolttech is led by Dragon Fund, which is involved in private equity investments globally, particularly in technology-enabled companies.
- Financial Services – Participants like Generali and Baillie Gifford, involved in the funding, are major players in the financial services industry, highlighting the industry's role in supporting insurtech growth.
Financials
- 100 million USD – Expected investment amount in bolttech's Series C funding round led by Dragon Fund.
- 2.1 billion USD – bolttech's valuation following the Series C funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| bolttech | Target Company | Company | A global insurtech company focused on integrating insurance products with a wide distribution network. |
| Dragon Fund | Bidding Company | Company | A private equity fund launched by Liquidity and MUFG, focusing on technology investments. |
| Baillie Gifford | Investor | Company | An investment management firm contributing to bolttech's Series C funding round. |
| Generali | Investor | Company | A global insurance and asset management provider investing through Lion River in bolttech. |
| Ridhi Chaudhary | CIO of Dragon Fund | Person | Chief Investment Officer at Dragon Fund, joining bolttech's board. |
| Aakash Tulsani | Director General of Dragon Fund | Person | A Director at Dragon Fund, commented on bolttech's potential and innovative technology. |
| Rob Schimek | Director Ejecutivo de bolttech | Person | CEO of bolttech, highlighted the importance of the Series C funding and its future impact. |