Global insurtech Bolttech has sequred a $50 mn venture debt facility with HSBC. Bolttech aims to use this funding to further its ambitious plans for innovation and growth in the insurtech sector.
The funding will drive bolttech’s strategic initiatives, including market expansion, technological advancements, product development, and enhanced operational flexibility.
Bolttech, founded in 2020, operating in over 35 markets across four continents. The company’s platform connects insurers, distribution partners, and customers, enabling seamless omni-channel insurance distribution and servicing via a single API.
This technology allows businesses to integrate customized insurance solutions directly into their customer interactions, driving growth and competitiveness in the evolving insurance sector.
Jonathan Yip, Managing Director of Innovation Banking at HSBC, highlighted the facility’s role in fostering growth. “This tailored structure provides the flexibility innovative companies like bolttech need to seize emerging opportunities,” Yip said.
This facility reflects HSBC’s confidence in our vision and growth trajectory, strengthening a partnership that will deliver mutual value
Romaney O’Malley, Group CFO at bolttech
HSBC has supported bolttech since 2019, providing banking and financing services in over 14 countries. The new multi-year credit facility offers flexibility for bolttech to capitalize on the expanding global embedded insurance market. HSBC acted as the sole lender for the transaction.
Launched in May 2023, HSBC’s venture debt program supports investor-backed growth-stage businesses in sectors like technology and life sciences. This facility aligns with HSBC’s broader strategy to empower companies shaping new economic models.
Bolttech offers a distribution engine, providing access to an extensive library of insurance products, a dynamic quoting system for personalized recommendations, and a no-code product configurator for quick market deployment. It also leverages advanced analytics to enhance conversion rates and customer experiences.
The company’s leadership includes experienced professionals such as Chairman Richard Li, Non-Executive Director Malcolm Turnbull, and Group CEO Rob Schimek.
Bolttech’s mission focuses on creating a technology-enabled ecosystem that connects people with innovative ways to protect the things they value most.
In 2024, Bolttech expanded its presence in Poland, rebranding Digital Care sp. z o.o. to Bolttech Poland sp. z o.o., following a strategic acquisition.
