Bolttech, a Singaporean insurance tech firm, has acquired Kenyan digital insurance platform mTek in a deal that marks a significant push into Africa’s fast-growing protection market.

The company did not disclose the transaction value, although similar regional acquisitions typically fall within the multi-million-dollar range.

The move positions Nairobi as a major operational hub for Bolttech on the continent. The firm already operates in 39 markets across Asia, Europe, North America, and Africa.

It is seeking to scale its embedded insurance model in a region where insurance penetration remains below three percent, and digital services are becoming central to consumer engagement.

Founded in 2019, mTek has built a fully digital platform that allows Kenyan customers to compare quotes, purchase cover, and manage policies without paperwork.

The company works with major insurers, including GA Insurance, Sanlam, and Britam, and its partnerships have advanced financial inclusion by giving users broader access to affordable products.

mTek also struck a collaboration with Mastercard in September to develop embedded insurance solutions for East Africa. Bolttech said the acquisition will enable it to integrate mTek’s local insights with its global technology and distribution ecosystem.

Stephan Tan, Bolttech’s chief executive for Europe, the Middle East, and Africa, said the deal strengthens the group’s mission to expand access to protection products.

Speaking on Wednesday, he described the takeover as a moment of acceleration for its African strategy. Tan said mTek’s platform and team align closely with Bolttech’s ambitions to broaden digital insurance adoption and drive regional growth.

Bente Krogmann, mTek’s chief executive, said the company’s focus on inclusive insurance has reshaped how Kenyans access cover. She said the partnership with Bolttech will help scale this impact by bringing more relevant and innovative products to customers across the region.

mTek’s leadership team will remain in place to manage operations in East Africa and maintain continuity for customers, staff, and partners during the transition. A rebrand is planned as part of the integration process.

More than 350,000 customers currently use mTek’s platform, which aggregates quotes from over 45 insurers and offers flexible instalment options alongside upfront payments.

Bolttech said these capabilities will be extended to wider markets as it deepens its African presence and connects more users to its global insurance network. (Business Insider Africa)

PHOTO: L–R: Bolttech Director of Strategy & Innovation Christopher Osore, Bolttech General Manager Bente Krogmann, and Bolttech Chief Executive Officer for Europe, the Middle East and Africa (EMEA) at the MoU signing for mTek’s acquisition. The acquisition marks a significant milestone for Bolttech as it accelerates its strategic expansion in East Africa and strengthens the Group’s global embedded insurance capabilities.

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