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January 31, 2022

Bolttech eying $300m fresh investment in 2022

Singapore-based insurtech platform bolttech is planning to raise fresh investment between $200m and $300m this year, Bloomberg reported citing sources.

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bolttech is working with financial advisors for the funding round, which may be launched later this year, the sources said adding that the proceeds will be used for expansion.

Deliberations are at an initial stage and the details of the round such as the size of the investment could change, the sources added.

The insurtech could also launch an initial public offering in the US or Asia in the future.

Backed by the likes of Hong Kong billionaire Richard Li, bolttech leverages technology to connect insurers, distributors, and customers.

Last month, bolttech secured additional investment from Asia-based BRV Capital Management (BRV) as part of its extended Series A funding round.

As per media reports, the insurtech has raised $247m in Series A round last year.

Its other backers include Activant Capital, Future Shape principal Tony Fadell, Alpha Leonis Partners, Dowling Capital Partners, B. Riley Venture Capital, Tarsadia Investments, EDBI Singapore and Mundi Ventures.

According to bolttech’s website, the firm operates in 30 markets across North America, Asia, and Europe in partnership with 150 insurers and over 700 distribution partners.

Founded in 2020, the insurtech achieved unicorn status in mid-2021 after raising $180m in funding.

In July 2021, bolttech acquired B2B2C digital insurance platform i-surance to accelerate its European expansion.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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