Insurtech bolttech closes $147m series C funding round

Sumitomo Corp also entered into a JV with bolttech for embedded insurance.

Insurtech company bolttech has raised $147m in a Series C funding round that included Sumitomo Corporation and Iberis Capital as investors.

Sumitomo Corporation also entered into a joint venture with bolttech to deliver embedded insurance in Asia.

Sumitomo Corporation is one of Japan’s largest trading houses, whilst Iberis Capital is a private equity and venture capital manager based in Portugal. 

Other participating investors in the Series C are Dragon Fund, Baillie Gifford, and Generali’s Lion River, amongst others.

With this, bolttech’s company valuation is not at $2.1b, according to a press release.