bolttech, the fast-growing global Insurtech, has announced that it has welcomed another strategic investor, BRV Capital Management (BRV), an Asia-headquartered investment platform.
As mentioned in an update shared with CI, the addition follows bolttech’s announcement of Series A investors including Activant Capital, Tony Fadell – Principal at Future Shape LLC, Alpha Leonis Partners, Dowling Capital Partners, B. Riley Venture Capital, Tarsadia Investments, EDBI Singapore and Mundi Ventures.
As noted in a release, bolttech powers connections between insurers, distributors, and customers to “make it easier and more efficient to buy and sell insurance and protection products.”
bolttech has built a global footprint in 26 markets across North America, Asia, and Europe “working with more than 150 insurers and 700 distribution partners, now with US$5 billion premium transacting through its insurance exchange.”
BRV is a technology-focused, Asia-based growth equity unit of BlueRun Ventures, with an “accumulated investment track record of over 20 years.”
It has an active presence “across Seoul, Tokyo, Hong Kong, Beijing, Shanghai, and Menlo Park. BRV selectively invests in Asian category leaders that show opportunity for tech-enabled long-term growth.”
bolttech will use the investment proceeds to “continue the acceleration of its international growth strategy.”
BRV’s partnership as a strategic investor will “help propel bolttech’s expansion across Asia, particularly in Korea where bolttech has achieved rapid growth by delivering innovative and industry leading device protection solutions to Korea’s tech-savvy consumers.”
Rob Schimek, Group CEO at bolttech stated:
“We have set out to be ambitious in the implementation of our international growth strategy, moving with speed and conviction to make strategic acquisitions and invest in our talent and capabilities. BRV’s investment is further validation of our unique proposition and vision to connect people with more ways to protect the things they value. We are delighted to welcome BRV as a strategic investor and look forward to capturing the commercial opportunities made possible by this partnership.”
Kwan Yoon, General Partner, BRV Capital Management, remarked:
“bolttech’s leading technology-driven insurance exchange and distribution network presents a very compelling opportunity to be a part of a future of insurance that will benefit customers and partners alike. We are excited to partner with bolttech and support its continued international expansion by extending our own resources and networks.”