bolttech secures Series B investment

bolttech is announcing a Series B round led by Tokio Marine and other shareholders at a $1.5 billion valuation. The company isn’t disclosing the investment amount. Last year, bolttech closed a round of funding at a $1b+ valuation.

As part of the investment, Tokio Marine Holdings and bolttech are entering a business alliance, “aiming to realize the global expansion of embedded insurance and innovative insurance binding processes through a unique digital platform.” One action item sees Tokio Marine providing new products and services on a global scale. Future initiatives include developing new embedded insurance products, utilizing bolttech’s digital platform, and creating warranty products for the Asian market.

“Securing a lead investor of Tokio Marine’s high caliber and esteem is strong validation of international investors’ belief in the resilience of bolttech’s business model, our long-term value proposition, and our role in shaping the future of insurance distribution. Tokio Marine will be a pivotal strategic partner as we continue to accelerate our growth strategy and global expansion.” – Rob Schimek, bolttech’s group CEO.

“Tokio Marine is excited to have the opportunity to lead bolttech’s Series B round, and join bolttech on its incredible growth trajectory as their strategic partner. The scale and breadth of bolttech’s platform, coupled with its industry-leading tech and digital capabilities, and extensive insurance experience, uniquely positions the company as a clear leader within the insurtech space. We look forward to working with bolttech to take advantage of the commercial opportunities our new strategic partnership will offer.” – Masashi Namatame, managing executive officer, group chief digital officer, Tokio Marine.