Bolttech is a firm that specializes in developing solutions to increase the efficiency of the banking and insurance industries. In other words, it is an organization that aspires to create a technology-driven financial industry that is fully protected and secure. They made news when Bolttech obtained their first round of investment of $180 million, and as a result, they are now worth more than $1 billion. This new brand is well on its way to becoming a behemoth in the market, competing with established names like Bima, Brolly, and Goji.
More about Bolttech and Its History
Bolttech is a worldwide insurtech that was born digitally and was designed with a global reach in mind. It was founded in April 2020 by Richard Li. The company’s objective is to create the world’s top, technology-enabled safety, and insurance environment. They bring together insurers, marketing partners, and consumers to change the way coverage is purchased and marketed. Their insurance exchange is the world’s top technology that has enabled a platform of this sort to be at the core of the ecosystem, with $44 billion in estimated premiums yearly.
The Story So Far
Despite the fact that the Bolt Tech brand was created in early 2020, they have a good track record of technological improvements as well as extensive and well-respected insurance expertise. Under one competitive brand, the company now unites many market-leading brands with its start-up activities.
Bolt in North America is the world’s biggest technology-enabled insurance exchange, with its open market concept expanding worldwide alongside its award-winning cloud-based insurance and protection capabilities in Europe and Asia. They are now operating in 30 countries across three continents, seeking to build a global ecosystem driven by the power of connectivity. They presently have 30 markets, three technical centers, and four regional offices in nations such as the United States, Italy, Portugal, Spain, and the United Kingdom, among others.
Bolttech’s Footprints and Recognition
The Bolttech team serves millions of clients and partners worldwide, and their presence is expanding all the time. With $44 billion in listed premiums each year and thirty markets spanning three continents, they have 1500+ employees and 700+ channel members thanks to the networking they gained after winning several big insurtech awards. The company’s portfolio comprises 11 notable honors that have earned them international recognition. They received the Asia Pacific region’s Insurtech Innovation Awards in 2022, as well as the Efma and Accenture partnered awards for excellence in the Insurtech industry. The title of Market Map’s transformer was the first honor of 2022. In 2021, they earned eight honors, including Insurtech of the Year, Insurtech Leaders, and Fastest Growing International Insurtech Company.
Bolttech has received $217.2 million in investment over two waves. Their most recent funding came in the form of a Series A round on December 6, 2021. Bolttech is supported by ten investors. The most recent investors are Alma Mundiventures and BRV Capital Management. After only three months, it received its first Series A funding of $180 million from seven investors, with Activant Capital leading the round. This money thrust them into the limelight of every other venture capitalist in the valley. Six months later, in December 2021, they announced that they had raised another round of Series A investment totaling $37.2 million, with EDBI serving as the primary investor.
How are they saving the environment?
ESG (environmental, social, and governance) has been critical from the beginning at Bolt Tech. While they are still in the early stages of the ESG journey, they have a dedicated task force with seasoned consultants such as Trucost by Standard & Poors, as well as the participation of all their staff, to guide them. The United Nations’ Sustainable Development Goals (SDGs) will be the company’s focal point since they lay out a roadmap for building a better and more sustainable future for everybody. They have projects encompassing inclusivity, ethics, e-waste, and environmentalism among areas of concentration.
Bolttech is a firm that specializes in developing solutions to increase the efficiency of the banking and insurance industries
Bolttech has received $217.2 million in investment over two waves
Their lead investors are Alma Mundi Ventures and BRV Capital Management
It was founded in April 2020 by Richard Li.
The title of Market Map’s transformer was the first honor of 2022. In 2021, they earned eight honors, including Insurtech of the Year, Insurtech Leaders, and Fastest Growing International Insurtech Company