Insurtech firm bolttech has completed a $147 mn Series C funding round, bringing its valuation to $2.1 bn.
The financing introduces Sumitomo Corporation and Iberis Capital as new strategic partners, joining existing investors such as Dragon Fund, Baillie Gifford, and Lion River from Generali.
As part of the deal, Sumitomo Corporation will form a joint venture with bolttech to develop embedded insurance offerings and deliver end-to-end services to partners across Asia.
This initiative aims to expand bolttech’s footprint in the region and strengthen its position as a technology-driven insurance platform.
Sumitomo, one of Japan’s largest trading groups, adds industrial scale to bolttech’s regional ambitions, while Iberis Capital, based in Portugal, brings deep experience in venture and private equity investment.
The funding round supports bolttech’s plans to enhance its technology infrastructure and scale its international operations, aiming to make coverage more efficient and widely available across different customer segments.
Speaking on the partnership, Shinichi Kato, Group CEO of Media & Digital Group at Sumitomo Corporation, stated that the collaboration will promote growth and technological innovation throughout Asia.
Luis Quaresma, Partner at Iberis Capital, highlighted bolttech’s rapid expansion, technological strength, and leadership, underlining Iberis’ intention to contribute to the company’s continued development.
We are thrilled to join forces with bolttech – both as a strategic investor and through our joint venture. 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.
Shinichi Kato, Group CEO of Media & Digital Group at Sumitomo Corporation
Rob Schimek, bolttech Group CEO, said the funding reinforces market confidence in bolttech’s model and underlines the company’s focus on delivering improved insurance access and service quality worldwide.
With a platform operating in more than 30 countries across North America, Asia, Europe, and Africa, bolttech remains one of the fastest-growing companies in the global insurtech landscape.
