Leading impact investment firm LeapFrog Investments has become a new strategic investor in international insurtech bolttech, participating in an extension of its Series B funding round. LeapFrog’s investment of $50 million adds to bolttech’s recent Series B round, bringing the total funding to $246 million. The proceeds will be used to support the company’s global growth strategy, particularly in emerging markets, and to expand its technology-enabled ecosystem for protection and insurance for emerging consumers. bolttech aims to close the $1.8 trillion global protection gap and currently connects tailored and affordable insurance products to consumers through partner platforms in over 30 markets across three continents.
One of bolttech’s key offerings is device protection, specifically targeting emerging consumers. In markets like the Philippines, Vietnam, and Indonesia, devices are important insurable assets that can help unbanked and underbanked consumers access financial services at a lower cost, enable telemedicine services, and increase employment opportunities. Additionally, devices such as solar panels also require insurance and financing to be accessible. The investment from LeapFrog will support bolttech’s mission of promoting financial inclusion by improving access to essential and affordable insurance.
LeapFrog’s experience in tech-enabled insurance businesses in Africa and Asia will help bolttech customize its products for this growing market, ultimately building social and economic resilience by mitigating everyday financial shocks. As part of the investment, Fernanda Lima, Partner and Co-Head of LeapFrog’s Asia Financial Services team, will join bolttech’s Board as a Non-Executive Director. Lima’s expertise in inclusive financial institutions will support bolttech’s presence and business growth in emerging markets, as well as guide the development of a long-term environmental, social, and governance (ESG) strategy.
bolttech is an international insurtech aiming to become the world’s leading technology-enabled ecosystem for protection and insurance. It currently serves customers in more than 30 markets across North America, Asia, and Europe. LeapFrog Investments specializes in investing in healthcare, financial services, and climate solutions businesses in high-growth global markets. Its portfolio of companies delivers both impactful solutions and strong returns, averaging a 24% annual growth rate. LeapFrog has garnered billions of dollars from global institutional investors, including a recent $500 million commitment from Temasek to LeapFrog and its growth equity funds.
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