The round marks the entry of Sumitomo Corporation and Iberis Capital as new strategic investors, joining existing backers including Dragon Fund, Baillie Gifford, and Generali’s Lion River.
The closing of this round also sees Sumitomo Corporation entering into a joint venture with bolttech to roll out embedded insurance programs and end-to-end services for partners across Asia. The collaboration is set to further expand bolttech’s reach in the region and support the delivery of innovative, tech-driven insurance solutions.
“We are thrilled to join forces with bolttech – both as a strategic investor and through our joint venture,” said Shinichi Kato, Group CEO of Media & Digital Group at Sumitomo Corporation. “We are confident that this partnership will enable us to work closely with the bolttech team to drive growth and innovation across the Asia region.”
Iberis Capital, a leading venture and private equity manager based in Portugal, also expressed strong confidence in bolttech’s potential. “bolttech has emerged as a leading embedded insurtech player spanning a global footprint in a short amount of time,” said Luís Quaresma, Partner at Iberis Capital. “We are impressed by its tech capabilities, strategic vision for the future of insurance and its highly talented management team. We look forward to contributing to its next phase of growth, supporting the continued advancement of its unique solution.”
The funds from this round will be used to enhance bolttech’s platform capabilities and accelerate its global growth strategy, as the company continues its mission to make insurance more personalized, accessible, affordable, and convenient for customers worldwide.
“We are delighted to welcome our newest strategic investors Sumitomo Corporation and Iberis Capital as we successfully close our Series C,” said Rob Schimek, Group Chief Executive Officer at bolttech. “This investment is a strong endorsement of our unique business proposition, reinforcing our commitment to enabling a better insurance experience for customers worldwide. We are excited to continue our journey to build the future of insurance, working towards our vision of connecting people with more ways to protect the things they value.”
The successful close of the Series C round cements bolttech’s position as one of the fastest-growing insurtechs globally, with a platform that now spans over 30 markets across North America, Asia, Europe, and Africa.
