Bolttech, a Singapore-based insurtech specializing in embedded insurance, has completed a Series C funding round totaling $147 million, bringing its current valuation to approximately $2.1 billion. This latest funding effort follows an initial close for the Series C six months ago, which saw around $100 million led by Dragon Fund and supported by prominent investors including Baillie Gifford and Generali. The new tranche sees further participation from Japan’s Sumitomo Corporation and Portuguese firm Iberis Capital.
Founded in 2020 by Eric Gewirtzman and insurance industry veteran Rob Schimek, Bolttech enables companies to seamlessly integrate insurance offerings into their online purchasing journeys. Acting as a connector between insurers and distributors, Bolttech’s technology supports a vast ecosystem that currently comprises approximately 700 distribution partners and more than 230 insurers worldwide, collectively providing access to over 6,500 products.
In conjunction with the recent funding, Bolttech announced a strategic joint venture partnership with Sumitomo Corporation. This collaboration aims to extend Bolttech’s embedded insurance product portfolio as well as provide comprehensive, end-to-end services to partners in the Asian market.
Bolttech intends to direct this fresh infusion of capital toward enhancing its technological capabilities, particularly in data analytics and artificial intelligence. Additionally, the company plans significant expansion in regions such as Africa and North America as it continues to build out its global presence.
While Bolttech’s network of insurers and distribution partners has remained relatively stable over the past few years, the company highlighted a notable increase in the total annualized premiums it brokers, which rose from approximately $55 billion in May 2023 to roughly $60 billion as of April 2025.
Amid growing consumer preference for online shopping—a trend accelerated by the pandemic—Bolttech and competitors such as Qover, Neat, and Synctera have seen heightened demand as insurers seek innovative ways to engage digitally-savvy customers. Schimek acknowledged this competitive landscape, noting that Bolttech often finds itself in “coopetition,” as many companies opt to develop in-house solutions, even as the industry acknowledges mutual benefits of collaboration to close existing insurance coverage gaps.
Bolttech counts major insurance players such as Tokio Marine and MetLife among its investor base. The company has also secured partnerships with globally recognized brands like Allianz, Apple, AXA, Liberty Mutual, Samsung, Orange, Progressive, Lazada, and Home Credit.
