Bolttech Secures $147M Series C, Boosting Its $2.1B Valuation and Strengthening Embedded Insurance Push
Meeting Customers at the Right Digital Moment
In today’s digital marketplace, timing is everything—especially for businesses offering supplementary products like insurance. The challenge lies in presenting these add-ons precisely when consumers are most inclined to make that additional purchase, seamlessly integrated into the customer journey.
As online shopping becomes increasingly dominant, companies that facilitate these embedded experiences are drawing significant attention from both users and investors. A prime example is Singapore-based Bolttech, which bridges the gap between insurers, distributors, and end customers by embedding insurance directly into the digital buying process.
$147 Million Raised, $2.1 Billion Valuation Reached
On Wednesday, Bolttech announced the final close of its Series C funding round, securing $147 million and bringing the company’s valuation to $2.1 billion. This follows an initial $100 million raised six months prior, led by Impact Capital’s Dragon Fund, with participation from Baillie Gifford, Generali, and others. The second tranche also attracted new investors such as Sumitomo Corporation of Japan and Iberis Capital of Portugal.
Fast Growth Through Embedded Insurance
Founded in 2020 by industry veteran Rob Schimek, Bolttech has quickly emerged as a global player in embedded insurance — integrating protection products within third-party platforms so they’re readily available to consumers at checkout.
The company operates on a B2B2C model, linking around 700 distribution partners with over 230 insurers, offering more than 6,500 products globally. Despite these figures remaining stable since its Series B round two years ago, Bolttech reported a significant increase in business activity, with total annualized quoted premiums climbing to $60 billion as of April 2025, up from $55 billion in May 2023.
Strategic Expansion in Asia and Beyond
A key component of the latest round is a joint venture with Sumitomo, aimed at delivering “end-to-end services” and embedded insurance offerings across Asia. Bolttech also plans to invest in research and development, specifically enhancing its capabilities in AI and data analytics, and accelerate its expansion into Africa and North America.
Navigating a Competitive Landscape
The embedded insurtech sector is becoming increasingly crowded, with startups like Qover, Neat, and Synctera gaining ground. But Bolttech sees collaboration as a strategic advantage.
“Sometimes, the competition is simply taking the ‘do-it-yourself’ approach, where potential partners opt to build solutions in-house,” said Schimek in an interview with TechCrunch. “However, we often speak about ‘coopetition’ (collaborative competition) because in a world with a growing protection gap, the opportunity is vast, and we believe the industry can achieve more by working together to expand access to insurance for customers everywhere.”
Trusted by Global Leaders
Bolttech’s growing credibility is underscored by its impressive investor and partner list. Its backers include leading insurers like Tokio Marine and MetLife, and it has established partnerships with some of the world’s biggest brands — including Allianz, Apple, AXA, Liberty Mutual, Orange, Progressive, Lazada, Samsung, and Home Credit.
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