Global insurtech company bolttech has raised $147 million in a Series C funding round, pushing its valuation to $2.1 billion, according to a press release.
Among the new investors are Sumitomo Corporation and Iberis Capital. Sumitomo, one of Japan’s largest trading firms, has also formed a joint venture with bolttech to expand embedded insurance services across Asia.
Iberis Capital, a private equity and venture capital firm based in Portugal, also joined the round.
Other participants in the Series C include Dragon Fund, Baillie Gifford, and Lion River, the investment arm of insurance giant Generali.
The new funding is expected to support bolttech’s growth and development in the rapidly evolving insurtech market, especially in Asia.
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