SG-based insurtech clinches US$196m in Series B funding round

Bolttech plans to explore inorganic opportunities to expedite its international expansion.

Singapore’s Bolttech secured US$196m in funding through its Series B round. The series-B mega-round boosted the insurtech's value to US$1.6b.

Japanese insurance company, Tokio Marine, led the latest funding round. 

Other key investors were MetLife subsidiary, MetLife Next Gen Ventures and Malaysia's sovereign wealth fund Khazanah Nasional.

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The startup will use the funds it raised from the Series B round to support investments in proprietary technology, digital capabilities for business partners and end consumers, and hiring more talent across more than 30 markets. 

Bolttech also plans to explore inorganic opportunities to expedite its international expansion.