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Singapore-based insurtech unicorn bolttech has completed its acquisition of mTek, a prominent Kenyan digital insurance platform, marking a major expansion into the East African market.
The deal will integrate mTek’s operations into bolttech’s global network, which spans more than 35 markets across four continents. The acquisition strengthens bolttech’s African presence while leveraging mTek’s fully paperless platform to boost the company’s global embedded insurance capabilities.
Since its launch in 2019, mTek has become a standout player in Kenya’s insurtech sector, serving over 350,000 customers and working with 45+ insurance partners, including GA Insurance, Sanlam, and Britam. Its platform enables consumers to compare, purchase, and manage insurance policies entirely online—an approach that closely aligns with bolttech’s tech-first strategy.
“This is an exciting milestone as we extend our presence in Africa,” said Stephan Tan, CEO of bolttech EMEA. “mTek’s innovative platform and talented team share our vision of using technology to broaden access to protection. Together, we can accelerate digital insurance transformation and expand embedded protection across the region.”
mTek’s leadership will remain intact through the transition, with CEO Bente Krogmann continuing to le ad operations in East Africa.“Joining bolttech marks a powerful new chapter for mTek,” Krogmann said. “Our technology and local expertise have reshaped how Kenyans access insurance, and this partnership will help us scale that impact across the region.”
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The company also confirmed that mTek will adopt the bolttech brand “in due course.” The acquisition follows mTek’s strategic partnership with Mastercard in September to deploy embedded insurance solutions regionally. It also represents a successful exit for early backers such as Verod-Kepple Africa Ventures and Founders Factory Africa—an encouraging sign for the growing maturity of East Africa’s tech startup ecosystem.
