Bolttech raises $750m at $10.5bn valuation, accelerating global growth and expansion in Insurtech
Established in 2017 by entrepreneur Vivek Wadhwa, Bolttech offers an innovative cloud-based platform that empowers insurance companies to broaden their offerings while enhancing operational efficiency and reducing costs.
With a projected revenue exceeding $1bn for 2022, Bolttech operates in over 30 countries and sustains over 1,000 workers. The company’s achievements can be attributed to the rising demand for digital insurance solutions, facilitated by its platform’s ability to seamlessly deliver products and services to customers through online and mobile channels.
This approach has particularly resonated with clientele in emerging markets seeking accessible insurance solutions, says Bolttech.
Bolttech’s unique position within the insurance technology sector has further bolstered its growth trajectory by aiding insurance providers in adopting cutting-edge technologies and improving customer experiences.
The recent $750m funding round represents a significant milestone for the company, unlocking opportunities for accelerated expansion and a broader international presence. Additionally, the strategic collaboration with SoftBank offers Bolttech access to a valuable network of partners and resources, propelling further business development and the creation of new and innovative offerings.
Benefiting from its robust platform and alignment with evolving market trends, Bolttech is poised for sustained growth. The company’s ability to address the escalating demand for digital insurance solutions and leverage the advancements in insurtech positions it favourable for future success. Ultimately, Bolttech endeavours to expand its global customer base and assist individuals worldwide in protecting and securing their valuable assets.
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