Bolttech, one of the largest AI powered, cloud based technology and leading insurance providers announced that it has raised $180 million in Series A funding, bringing the series total to $210 million. This 180m series A is the largest series ever, which adds two new value investors to bolttech: The Singapore based Global Investor “EDBI” and Alma Mundi Insurtech Fund, Spain.
Boltech is a fully digitalized company that, with the use of its data driven capabilities and power connections, facilitates the smooth flow of information and utilities between insurers, distributors, and customers to make the process of selling and buying insurance easy and smooth. Bolttech is a globally designed company that serves almost 7 billion customers in 26 markets. It has access to 3 continents namely- North America, Asia, and Europe.
The capital raised will help the company to develop more enhanced technology and digital capabilities that enable its customers to enjoy uninterrupted services and advanced facilities in the field of insurance. Furthermore, the new investors in the company will enable it to strengthen its presence in Southeast Asia, Europe, and other markets. The business will also accelerate its international growth and strategy.
The CEO of Bolttech, Rob Schimek, said that “We are glad to have new value investors with us who are compatible and have a high caliber.” They bring to us an extensive network and huge opportunities in their respective markets, which will help us in the long run to expand our business. With the help of our new investors, we will develop new innovative strategies for the benefit of our partners and customers, and we will look forward to accelerating our growth in the international market. He added a few words by saying our vision is very clear and we are looking forward to connecting more people with us from different parts of the world.
The CEO of Mundi Ventures, Javier Santiso, says that “We value the insurance industry and companies like Bolttech a lot.” Bolttech is a perfect match with our investment criteria. It always aims at developing the insurance industry with new technologies and product innovation, which is something we also think about investing in. We are also excited and thrilled to work with Rob and his hardworking team.
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