Latest news with #IberisCapital
Yahoo
4 days ago
- Business
- Yahoo
Insurtech company bolttech raises $147m at $2.1bn valuation
Singapore-based insurtech company bolttech has wrapped up its Series C funding round, raising $147m (S$188.87m), with a company valuation of $2.1bn. The funding round, initiated in December 2024, added new investors including Sumitomo Corporation and Portugal's Iberis Capital. The company intends to use the funds to enhance its platform and advance its global growth strategy. Last month, Sumitomo Corporation formed a joint venture with bolttech to provide embedded insurance programmes and end-to-end services for partners across Asia. Sumitomo Corporation Media & Digital Group CEO Shinichi Kato stated: 'We are thrilled to join forces with bolttech – both as a strategic investor and through our joint venture. 'We are confident that this partnership will enable us to work closely with the bolttech team to drive growth and innovation across the Asia region.' Both Sumitomo Corporation and Iberis Capital join a consortium of existing investors comprising Dragon Fund, Baillie Gifford and Generali's Lion River. bolttech CEO Rob Schimek said: 'We are delighted to welcome our newest strategic investors Sumitomo Corporation and Iberis Capital as we successfully close our Series C. This investment is a strong endorsement of our unique business proposition, reinforcing our commitment to enabling a better insurance experience for customers worldwide. 'We are excited to continue our journey to build the future of insurance, working towards our vision of connecting people with more ways to protect the things they value.' Last month, bolttech integrated AWS generative AI solutions to optimise its operations and customer service. The bolttech Gen AI Factory platform, built on Amazon Bedrock, complements the company's call centre operations powered by Amazon Connect and Amazon Lex. "Insurtech company bolttech raises $147m at $2.1bn valuation " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Korea Herald
5 days ago
- Business
- Korea Herald
bolttech closes Series C fundraise, welcomes strategic investors Sumitomo Corporation and Iberis Capital
With investments totalling US$147 million, bolttech closes Series C with t he addition of new investors SINGAPORE, June 4, 2025 /PRNewswire/ -- bolttech, the fast-growing global insurtech, today announced the addition of Sumitomo Corporation, one of Japan's largest trading houses, and Iberis Capital, a leading private equity and venture capital manager in Portugal, as strategic investors. Their participation marks the successful close of bolttech's Series C funding round, with shares acquired by Series C investors in the amount of US$147 million, reflecting a company valuation of US$2.1 billion. In addition to Sumitomo Corporation becoming a strategic investor, the company has entered a joint venture with bolttech to deliver embedded insurance programmes and complementary end-to-end services for partners in Asia. Sumitomo Corporation and Iberis Capital join Dragon Fund, Baillie Gifford, Generali's Lion River, and other investors in bolttech's Series C funding round closing. This investment will enable the company to enhance its platform's capabilities and accelerate its global growth strategy, to make insurance more personalised, accessible, affordable, and convenient for customers. Shinichi Kato, Group CEO of Media & Digital Group, Sumitomo Corporation, said, "We are thrilled to join forces with bolttech – both as a strategic investor and through our joint venture. We are confident that this partnership will enable us to work closely with the bolttech team to drive growth and innovation across the Asia region." Luís Quaresma, Partner, Iberis Capital, said, "bolttech has emerged as a leading embedded insurtech player spanning a global footprint in a short amount of time. We are impressed by its tech capabilities, strategic vision for the future of insurance and its highly talented management team. We look forward to contributing to its next phase of growth, supporting the continued advancement of its unique solution." Rob Schimek, Group Chief Executive Officer, bolttech, said, "We are delighted to welcome our newest strategic investors Sumitomo Corporation and Iberis Capital as we successfully close our Series C. This investment is a strong endorsement of our unique business proposition, reinforcing our commitment to enabling a better insurance experience for customers worldwide. We are excited to continue our journey to build the future of insurance, working towards our vision of connecting people with more ways to protect the things they value."
