Bolttech, an insurance coverage know-how unicorn backed by Hong Kong billionaire Richard Li, is contemplating elevating $200 million to $300 million in recent funds this 12 months, in line with folks acquainted with the matter.
The Singapore-based firm is working with monetary advisers and a proper funding spherical might kick off later this 12 months, the folks stated, asking to not be recognized as a result of the data is non-public. It plans to make use of the proceeds for growth, they stated.
Concerns are preliminary and particulars resembling fundraising dimension might change, the folks stated, including that the startup might additionally weigh a possible itemizing within the U.S. or Asia sooner or later.
A consultant for Bolttech declined to remark.
Bolttech raised $247 million from traders together with Activant Capital Group in a sequence A spherical late final 12 months, in line with the corporate. Singapore-based funding agency EDBI and Spain’s Mundi Ventures by way of its Alma Mundi Insurtech Fund additionally participated within the spherical. The corporate was launched in 2020.
Led by Chief Government Officer Rob Schimek, Bolttech is a cloud-based know-how platform connecting insurers, distributors and prospects to make it simpler to purchase and promote insurance coverage and safety merchandise, in line with its web site. It serves greater than 8.3 million prospects throughout North America, Asia and Europe.
{Photograph}: Billionaire Richard Li, chairman and chief govt officer of Pacific Century Group, which owns insurer FWD Group. Picture credit score: Paul Yeung/Bloomberg.
Copyright 2022 Bloomberg.
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