Bolttech

Singapore-based insurtech bolttech has raised $50 million in Series B round led by impact investment firm LeapFrog Investments. The investment adds to bolttech’s recent Series B funding round, now totalling $246 million, the largest ever Series B round for an insurtech.

Singapore-based insurtech firm bolttech has on Wednesday announced it has raised $196 million in connection with its Series B with an up-round valuation of $1.6 billion. The round was led by Japanese insurance firm Tokio Marine.

Singapore-based insurtech bolttech, has partnered with Thailand’s mobile network operator AIS, to deliver embedded protection services including mobile device switch and replacement services to AIS customers for the recently-launched AIS Care+ programme.

Bolttech, a Singapore-based insurtech company, announced Monday Tokio Marine, alongside other shareholders, will lead its Series B funding round. The investment values bolttech at an up-round valuation of approximately $1.5 billion, one year after it closed the largest ever Series A funding round for an insurtech.

Bolttech has completed the acquisition of AVA Insurance Brokers and AVA Insurance Agency (AVA). The acquisition of AVA will accelerate the deployment of Bolttech’s insurance exchange in Singapore, connecting insurers, distributors and customers, making it easier and more efficient to buy and sell insurance.