By Yantoultra Ngui

SINGAPORE, Dec 20 (Reuters) - Singapore-headquartered

insurance technology firm bolttech has raised more than $100

million in its latest funding round, led by Dragon Fund of

Mitsubishi UFJ Financial Group and fintech direct

lender Liquidity Group, it said on Friday.

The Series C funding round valued the company at $2.1

billion and the investment will be used for further global

growth strategy, bolttech said in the statement.

That is 31.3% higher than the $1.6 billion disclosed in its

previous Series B funding round in May 2023.

Founded in 2020, bolttech operates a digital platform where

insurers, distributors and customers buy and sell insurance and

protection products in more than 35 markets across North

America, Asia, Europe and Africa, according to its website.

Other investors in the latest funding round include UK

investment management firm Baillie Gifford and insurer

Generali's private equity arm Lion River, the statement said.

Global insurtech investment hit $1.38 billion in the third

quarter of this year, the highest since the first quarter of

2023, based on a report by UK reinsurance broker Gallagher Re in

November, supported by the boom in artificial intelligence.

Last month, bolttech closed a $50 million venture debt

facility with HSBC ( HSBC ).

In September 2023, it secured $50 million from impact

investment firm LeapFrog, extending its Series B funding round

to raise a total $246 million.