The international insurtech bolttech is now valued at $1.6 billion after raising $196 million in its Series B round, led by Japanese insurer Tokio Marine.
Other key investors include MetLife Next Gen Ventures, a subsidiary of MetLife, and Malaysia’s sovereign wealth fund Khazanah Nasional, as well as new and existing shareholders.
The Series B proceeds will further fuel growth, including investment in proprietary technology, digital capabilities for business partners and end consumers as well as talent in 30+ bolttech markets, the insurtech said.
In addition, the funds will be used to explore inorganic opportunities to accelerate international growth.
Rob Schimek, Group Chief Executive Officer at bolttech, commented: “Having recently celebrated our third anniversary since our launch in 2020, we are proud of what we have achieved so far in our mission to build the leading technology-enabled insurance ecosystem.
“We are now one of the fastest growing insurtechs in the world, allowing our partners to find new revenue streams, accelerate their digital transformation, and deepen their customer relationships.
“We thank all of our Series B investors for their support, and we are excited to welcome our new investors, renowned leaders in their respective fields, and look forward to the league -on partnerships that will drive bolttech’s continued growth on our path to profitability by 2024.”