NAIROBI, Kenya, Dec 5 – Global insurance technology firm Bolttech has acquired mTek, the Nairobi-based digital insurance platform, marking the latest consolidation move in East Africa’s fast-growing insurtech market.
mTek, founded in 2019, operates a fully digital platform that allows customers to compare, buy, and manage insurance policies.
The firm has partnered with major underwriters including GA Insurance, Sanlam, and Britam, and earlier this year entered a collaboration with Mastercard to roll out embedded insurance solutions across the region.
Bolttech said the acquisition will allow it to integrate mTek’s technology into its global embedded insurance ecosystem.
Stephan Tan, Chief Executive Officer for EMEA at bolttech, said, “This represents an exciting step forward for bolttech as we expand our footprint in Africa. mTek’s innovative platform and talented team share our vision of using technology to make protection more accessible.”
“Together, we can accelerate digital transformation in insurance and extend the reach of embedded protection across the region.”
mTek’s leadership will remain in place during the transition, with CEO Bente Krogmann continuing to oversee East African operations.
Krogmann said the deal sets up the company for wider regional expansion.
“Joining the bolttech family marks an exciting next chapter for mTek. Our technology, local insight, and commitment to inclusive insurance have transformed how customers access protection in Kenya, and this partnership allows us to scale that impact even further – bringing more innovative and relevant insurance solutions to customers at scale.”
The company is expected to rebrand following the acquisition, as the firms work on integrating systems, staff, and partnerships.
