4 June, 2025

bolttech closes Series C fundraise, welcomes strategic investors Sumitomo Corporation and Iberis Capital

With investments totalling US$147 million, bolttech closes Series C with the addition of new investors

Singapore, 4 June 2025 – bolttech, the fast-growing global insurtech, today announced the addition of Sumitomo Corporation, one of Japan’s largest trading houses, and Iberis Capital, a leading private equity and venture capital manager in Portugal, as strategic investors. Their participation marks the successful close of bolttech’s Series C funding round, with shares acquired by Series C investors in the amount of US$147 million, reflecting a company valuation of US$2.1 billion.

In addition to Sumitomo Corporation becoming a strategic investor, the company has entered a joint venture with bolttech to deliver embedded insurance programmes and complementary end-to-end services for partners in Asia.

Sumitomo Corporation and Iberis Capital join Dragon Fund, Baillie Gifford, Generali’s Lion River, and other investors in bolttech’s Series C funding round closing. This investment will enable the company to enhance its platform’s capabilities and accelerate its global growth strategy, to make insurance more personalised, accessible, affordable, and convenient for customers.

Shinichi Kato, Group CEO of Media & Digital Group, Sumitomo Corporation, said, “We are thrilled to join forces with bolttech – both as a strategic investor and through our joint venture. We are confident that this partnership will enable us to work closely with the bolttech team to drive growth and innovation across the Asia region.”

Luís Quaresma, Partner, Iberis Capital, said, “bolttech has emerged as a leading embedded insurtech player spanning a global footprint in a short amount of time. We are impressed by its tech capabilities, strategic vision for the future of insurance and its highly talented management team. We look forward to contributing to its next phase of growth, supporting the continued advancement of its unique solution.”

Rob Schimek, Group Chief Executive Officer, bolttech, said, “We are delighted to welcome our newest strategic investors Sumitomo Corporation and Iberis Capital as we successfully close our Series C. This investment is a strong endorsement of our unique business proposition, reinforcing our commitment to enabling a better insurance experience for customers worldwide. We are excited to continue our journey to build the future of insurance, working towards our vision of connecting people with more ways to protect the things they value.”

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About Sumitomo Corporation

Sumitomo Corporation (TYO: 8053) is an integrated trading and business investment company with a strong global network comprising 125 offices in 64 countries and regions. The Sumitomo Corporation Group consists of approximately 900 companies and 80,000 employees on a consolidated basis. The Group’s business activities are spread across the following nine groups: Steel, Automotive, Transportation & Construction Systems, Diverse Urban Development, Media & Digital, Lifestyle Business, Mineral Resources, Chemicals Solutions and Energy Transformation Business. Sumitomo Corporation is committed to creating greater value for society under the corporate message of “Enriching lives and the world,” based on Sumitomo’s business philosophy passed down for over 400 years.

About Iberis Capital

Founded in 2017, Iberis Capital is a leading venture capital fund manager based in Lisbon, that invests in innovative tech startups with a strong presence in Portugal.

With over 500 million euros in assets under management and a base of over 1,000 investors, Iberis Capital has established partnership relationships and contributed to the development of some of the most promising national technology companies, having the capacity to support them at different stages of their growth.

For more information, please visit www.iberiscapital.com