Insurtech bolttech has announced Dragon Fund, by Liquidity and MUFG, is leading bolttech’s Series C funding round.

With investors such as Baillie Gifford and Generali also joining in, the funding round is expected to gain more than $100m.

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Furthermore, after bolttech’s record-breaking Series A and B rounds, the Series C up-round values bolttech at $2.1bn and the investment will further enhance its global growth strategy.

In addition, The strategic support of lead investor Dragon Fund alongside the follow-on investors and the Series C funding will enable bolttech to continue to enhance its platform’s capabilities, expand its market presence globally, and accelerate its goal to make insurance more tailored, accessible, affordable and convenient for customers.

Ridhi Chaudhary, CIO of Dragon Fund, said: “We are excited to lead bolttech’s Series C round. In a short time, bolttech has become a leading, embedded insurtech player with global presence and scale. We are impressed by its tech capabilities and execution. I look forward to joining the Board of Directors and supporting its next phase of growth.”

Aakash Tulsani, Managing Director at Dragon Fund, continued: “bolttech’s differentiated technology and programme management solution integrates insurance into customer purchase journeys, enhancing access to affordable, customised products. As a technology-first provider, bolttech is well positioned to shape the future of embedded insurance, a $70B+ addressable market globally.”

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Hendrik Borginon, Investment Manager, Baillie Gifford, stated: “bolttech is a pioneering force in the embedded insurance space. By enabling seamless integration of insurance products into their distribution partners, bolttech is transforming how insurance is bought and sold globally. With a highly experienced team at the helm, we are optimistic about their potential to drive significant growth and profitability in the coming years.”

Rob Schimek, Group Chief Executive Officer, bolttech, added: “This latest round of funding is an endorsement of our value proposition and marks another significant milestone for bolttech. The funding also demonstrates our relentless pursuit of innovation and excellence as we enable the insurance industry. With this investment from Dragon Fund and our Series C investors, we will continue to revolutionise the future of insurance through our leading technology-enabled ecosystem.”