Insurtech firm Bolttech grabs $50m from LeapFrog in Series B extension

• Bolttech will use the investment for growth and expansion
• As part of the investment, Bolttech will appoint Fernanda Lima, a partner and co-head of LeapFrog’s Asia financial services team, to its board as a non-executive director
• LeapFrog invests in healthcare, financial services and climate solutions businesses

Insurtech firm Bolttech has secured $50 million from LeapFrog Investments in an extension of its Series B round.

As a result of this commitment, Bolttech now has a total of $246 million in Series B funding.

Bolttech will use the proceeds from the $50 million commitment to support its global growth strategy, with a focus on emerging markets, as well as expanding its technology-enabled ecosystem for protection and insurance for emerging consumers.

As part of the investment, Bolttech will appoint Fernanda Lima, a partner and co-head of LeapFrog’s Asia financial services team, to its board as a non-executive director.

On LeapFrog’s investment, Rob Schimek, Group CEO of Bolttech said in a statement, “We are thrilled to welcome LeapFrog as our new strategic investor amidst a challenging economic backdrop for insurtechs and fintechs globally. We see LeapFrog’s investment as a strong validation of our unique business proposition as we continue to build a better insurance experience and ensure people, especially those in emerging markets, get the protection that they need.”

Bolttech has offices in Singapore, Hong Kong and Austin.

LeapFrog invests in healthcare, financial services and climate solutions businesses.