Global Insurtech Unicorn bolttech Acquires Kenyan Platform mTek in East African Expansion
Singapore-based insurtech unicorn bolttech has officially acquired mTek, a leading Kenyan digital insurance platform, marking a significant entry into the East African market.
The acquisition, announced on December 3, 2025, will see mTek’s operations integrated into bolttech’s global ecosystem, which currently spans over 35 markets across four continents. The move is designed to strengthen bolttech’s footprint in Africa while leveraging mTek’s paperless platform to enhance embedded insurance capabilities globally.
Founded in 2019, mTek has grown into a key player in Kenya’s insurtech space, serving over 350,000 customers and partnering with more than 45 insurers, including major industry names like GA Insurance, Sanlam, and Britam. The platform allows users to compare, purchase, and manage policies entirely online, a model that aligns with bolttech’s technology-driven approach.
“This represents an exciting step forward for bolttech as we expand our footprint in Africa,” said Stephan Tan, CEO of bolttech EMEA. “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.”
Under the terms of the deal, mTek’s current leadership team will remain in place to ensure stability during the transition. Bente Krogmann, CEO of mTek, will continue to oversee operations in East Africa.
“Joining the bolttech family marks an exciting next chapter for mTek,” said Krogmann. “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.”
The company confirmed to TechTrends Media that mTek will eventually rebrand to adopt the bolttech identity “in due course.”
The acquisition comes just months after mTek announced a strategic collaboration with Mastercard in September to roll out embedded insurance solutions across the region. The deal also represents a successful exit for mTek’s early investors, including Verod-Kepple Africa Ventures and Founders Factory Africa, signaling growing maturity in East Africa’s tech startup ecosystem.
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