back Back

bolttech raises Series B funding of $246 m from LeapFrog

By Gloria Mathias

September 22, 2023

  • 50 Million
  • APAC funding news
  • APAC news
Share

Global InsurTech, bolttech, Leapfrog, Investment, Series B Funding, SingaporeGlobal InsurTech bolttech has secured investment from LeapFrog Investments as a new strategic investor in an extension of its Series B round. LeapFrog’s $50 million investment adds to bolttech’s recent Series B funding round, now totalling US$246 million, the largest ever Series B round for an InsurTech.

bolttech will use the funding from the $50 million commitment to support its global growth strategy, with a focus on emerging markets, as well as expanding its technology-enabled ecosystem for protection and insurance for emerging consumers. The proceeds will accelerate the company’s goal of enabling the insurance industry to close the US$1.8 trillion global protection gap.

As part of the investment, bolttech will appoint Fernanda Lima, Partner, and Co-Head of LeapFrog’s Asia Financial Services team to its Board as a Non-Executive Director. Fernanda’s experience in adding value across LeapFrog’s portfolio of inclusive financial institutions around the world will support bolttech’s emerging market presence and business growth.

Rob Schimek, Group Chief Executive Officer, bolttech said, “We are thrilled to welcome LeapFrog as our new strategic investor amidst a challenging economic backdrop for InsurTechs and FinTechs globally. We see LeapFrog’s investment as a strong validation of our unique business proposition as we continue to build a better insurance experience and ensure people, especially those in emerging markets, get the protection that they need. We also welcome Fernanda, who will bring an invaluable depth and breadth of diverse experience to our Board. ”

Fernanda Lima, Partner & Co-Head of LeapFrog’s Asia Financial Services team shared, “bolttech has established a strong position within the insurance space with its powerful technology platform and extensive distribution network. bolttech shares LeapFrog’s vision of making essential financial solutions more affordable and accessible, especially for the many emerging consumers in growth markets. There is so much to be done to close the protection gap, particularly in emerging Asia, Latin America and Africa.”

Through the investment, bolttech and LeapFrog will work together to promote financial inclusion by improving access to essential and affordable insurance.

Previous Article

September 22, 2023

Vodeno hires Philip McHugh as Chairman & Noah Sharp as CEO

Read More
Next Article

September 22, 2023

MoneyMasters Limited goes live with Axia Suite by Profile Software

Read More






IBSi Daily News Analysis

cloud,

July 19, 2024

50 Million

SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 23, 2024

4 BNPL platforms providing financial freedom to consumers in MENA

Read More

July 23, 2024

Plum, UK’s smart money app raises £16m Series B

Read More

July 22, 2024

5 FinTechs boosting Wealth Management in the USA

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024