{"id":50789,"date":"2023-09-21T10:13:00","date_gmt":"2023-09-21T15:13:00","guid":{"rendered":"https:\/\/bolttech.io\/news\/leapfrog-investment-extends-bolttech-s-series-b-to-record-breaking-us-246m\/"},"modified":"2023-09-21T10:13:00","modified_gmt":"2023-09-21T15:13:00","slug":"leapfrog-investment-extends-bolttech-s-series-b-to-record-breaking-us-246m","status":"publish","type":"post","link":"https:\/\/bolttech.io\/pt-pt\/news\/leapfrog-investment-extends-bolttech-s-series-b-to-record-breaking-us-246m\/","title":{"rendered":"LeapFrog investment extends bolttech\u2019s Series B to record-breaking US$246M"},"content":{"rendered":"\n

bolttech\u2019s Series B is now the largest in history for an insurtech. Leading impact investment firm LeapFrog will guide bolttech\u2019s efforts to promote financial inclusion in emerging markets. LeapFrog Partner Fernanda Lima joins the bolttech board to support growth and ESG strategy.<\/em><\/p>\n\n\n\n

Singapore, 21 September 2023<\/strong> \u2013 International insurtech bolttech welcomed leading impact investment firm LeapFrog Investments as a new strategic investor in an extension of its Series B round. LeapFrog\u2019s US$50 million investment adds to bolttech\u2019s recent Series B funding round, now totalling US$246 million, the largest ever Series B round for an insurtech.<\/p>\n\n\n\n

bolttech will use the proceeds from the US$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. The proceeds will accelerate the company\u2019s goal of enabling the insurance industry to close the US$1.8 trillion global protection gap [1].<\/p>\n\n\n\n

bolttech\u2019s leading ecosystem connects tailored and affordable insurance products to consumers via partner platforms in more than 30 markets across three continents. bolttech serves a wide range of customers, including more than two million emerging consumers [2], especially with its device protection offerings. In markets such as the Philippines, Vietnam and Indonesia, devices are an important insurable asset that can help unbanked and underbanked consumers to access financial services at a lower cost, enable telemedicine services and increase employment opportunities. Similarly, many other devices, and even climate solutions such as solar panels require insurance and financing to be accessible.<\/p>\n\n\n\n

Through the investment, bolttech and LeapFrog will work together to promote financial inclusion by improving access to essential and affordable insurance. LeapFrog\u2019s extensive track record with tech-enabled insurance businesses in Africa and Asia will help bolttech to target its products to this growing market, helping to build social and economic resilience by mitigating everyday financial shocks.<\/p>\n\n\n\n

As part of the investment, bolttech will appoint Fernanda Lima, Partner and Co-Head of LeapFrog\u2019s Asia Financial Services team<\/strong> to its Board as a Non-Executive Director. Fernanda\u2019s experience in adding value across LeapFrog\u2019s portfolio of inclusive financial institutions around the world will support bolttech\u2019s emerging market presence and business growth as well as guide the company\u2019s efforts in developing a robust, long-term ESG strategy.<\/p>\n\n\n\n

Rob Schimek, Group Chief Executive Officer, bolttech<\/strong> said, \u201cWe are thrilled to welcome LeapFrog as our new strategic investor amidst a challenging economic backdrop for insurtechs and fintechs globally. We see LeapFrog\u2019s 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. We also welcome Fernanda, who will bring an invaluable depth and breadth of diverse experience to our Board. We look forward to working with her as we achieve our vision of connecting people around the world with more ways to protect the things they value.\u201d<\/p>\n\n\n\n

Fernanda Lima<\/strong> shared: \u201cbolttech has established a strong position within the insurance space with its powerful technology platform and extensive distribution network. bolttech shares LeapFrog\u2019s vision of making essential financial solutions more affordable and accessible, especially for the many emerging consumers in growth markets. There is so much to be done to close the protection gap, particularly in emerging Asia, Latin America and Africa. It is my privilege to take on this role and I am excited to draw upon my experience and work with the other members of the Board to steer bolttech towards its goals.\u201d<\/p>\n\n\n\n

About LeapFrog Investments<\/strong><\/p>\n\n\n\n

LeapFrog invests in healthcare, financial services and climate solutions businesses in high-growth global markets. Its companies deliver distinctive impact and robust returns, growing on average 24 per cent a year. LeapFrog companies now reach 492 million people in 30 countries. The firm has raised billions of dollars from global institutional investors, including a recent $500m commitment by Temasek to LeapFrog and its growth equity funds. LeapFrog has been ranked by Fortune as one of the top five Companies to Change the World, the first private investment firm ever listed.<\/p>\n\n\n\n

For more information, visit: http:\/\/www.leapfroginvest.com\/<\/a><\/p>\n\n\n\n

Sources:<\/strong><\/p>\n\n\n\n

[1] Swisse Re, sigma 2\/2023 – Restoring resilience, 2023.<\/p>\n\n\n\n

[2] Emerging consumers are defined as those living on less than $11.20 PPP a day.<\/p>\n","protected":false},"excerpt":{"rendered":"

bolttech\u2019s Series B is now the largest in history for an insurtech. Leading impact investment firm LeapFrog will guide bolttech\u2019s efforts to promote financial inclusion in emerging markets. LeapFrog Partner Fernanda Lima joins the bolttech board to support growth and ESG strategy. Singapore, 21 September 2023 \u2013 International insurtech bolttech welcomed leading impact investment firm LeapFrog […]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[205],"class_list":["post-50789","post","type-post","status-publish","format-standard","hentry","category-sem-categoria"],"acf":[],"_links":{"self":[{"href":"https:\/\/bolttech.io\/pt-pt\/wp-json\/wp\/v2\/posts\/50789","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bolttech.io\/pt-pt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bolttech.io\/pt-pt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bolttech.io\/pt-pt\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/bolttech.io\/pt-pt\/wp-json\/wp\/v2\/comments?post=50789"}],"version-history":[{"count":0,"href":"https:\/\/bolttech.io\/pt-pt\/wp-json\/wp\/v2\/posts\/50789\/revisions"}],"wp:attachment":[{"href":"https:\/\/bolttech.io\/pt-pt\/wp-json\/wp\/v2\/media?parent=50789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bolttech.io\/pt-pt\/wp-json\/wp\/v2\/categories?post=50789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}