Shinhan Investment and Kakao Investment Join as Strategic Investors in 'Bolttech'

On September 17, Shinhan Investment Corp. announced that it has participated in the Series C investment round of the global insurtech company Bolttech, together with Kakao Investment.

Bolttech, founded in Singapore in 2020, is a technology-driven insurance ecosystem company that currently operates in more than 37 markets across Asia, Europe, North America, and Africa. The company is recognized for leading innovation in the embedded insurance sector by digitalizing the insurance purchase and sales process to maximize efficiency.

Shinhan Investment Corp. and Kakao Investment joined Bolttech's Series C funding round alongside Japan's Sumitomo Corporation, Portugal's Iberis Capital, Liquidity, Dragon Fund (a subsidiary of Mitsubishi UFJ Financial Group), the UK's Baillie Gifford, and Lion River of European insurer Generali, among others.

Going forward, they plan to support Bolttech's successful expansion into the Korean market, build a solid partnership, and explore new business opportunities together.

A representative from Shinhan Investment Corp. stated, "This investment demonstrates our commitment to supporting companies with innovation and growth potential that will shape the future of financial services," adding, "We highly value Bolttech's unrivaled technological capabilities and global influence as a leader in the insurtech sector." A representative from Kakao Investment commented, "Through this investment, we look forward to working closely with Bolttech to deliver innovative insurance experiences and provide new value to customers not only in Korea but globally."

Rob Schimek, Group CEO of Bolttech, said, "We are very proud to have Shinhan Investment Corp. and Kakao Investment join our vision of building the world's leading technology-based insurance ecosystem," emphasizing, "This investment is a testament to the strong confidence in Bolttech's platform and growth strategy to deliver more personalized, rational, and convenient insurance experiences to customers."

Shinhan Investment Corp. plans to continue leveraging its domestic and global networks to identify promising investment opportunities in advanced technology sectors such as artificial intelligence (AI) and fintech. Previously, the company has invested in global GPU cloud company Lambda, Australian water electrolysis company Hysata, and US smart factory company Bright Machines. In addition, it has achieved visible results by successfully exiting investments in US AI adtech company Moloco and European biosimilar company Alvotech.

This content was produced with the assistance of AI translation services.