Bolttech Acquires Kenya’s mTek to Expand Its Digital Insurance Footprint in East Africa
Bolttech has acquired Kenya’s mTek to expand its digital insurance and embedded protection services in East Africa. The deal builds on mTek’s recent growth and rising investor interest in the region’s insurtech sector...
✨ Key Highlights
Bolttech, a global insurtech firm, has acquired mTek, a Nairobi-based digital insurance platform, to expand its presence in East Africa and strengthen its embedded insurance capabilities.
- mTek, launched in 2019, allows users to compare, buy, and manage insurance policies digitally and has grown to over 250,000 customers.
- The acquisition aims to accelerate digital transformation in insurance and extend embedded protection across the region, with mTek’s leadership team, including Chief Executive Officer Bente Krogmann, continuing to run operations.
- This move highlights rising interest in Kenyan insurtech startups, which address the country's low insurance penetration rate, estimated at about 3%.
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Family Bank Raises KES 8 Billion, Govt Sells Safaricom Stake, and Bolttech Acquires mTek - December 2025
Family Bank has successfully completed its private placement of ordinary shares, raising KES 8.004 billion in an oversubscribed round that exceeded its KES 6.090 billion target by 131%. In a separate deal, the Government of Kenya plans to sell a 15% stake in Safaricom PLC to Vodafone Kenya, which could generate between KES 240.5 billion and KES 244.5 billion. This divestment is aimed at funding the establishment of the National Infrastructure Fund and the Sovereign Wealth Fund. Additionally, global insurtech firm Bolttech has acquired mTek, a Nairobi-based digital insurance platform. The acquisition will expand Bolttech's presence in East Africa and strengthen its embedded insurance capabilities.
