mTek, a Kenyan-based digital insurance insurance service provider has been acquired by Bolttech,a move aimed at advancing Bolttech’s strategic goals in East Africa and enhances the group’s global embedded insurance capabilities.
Founded in 2019, mTek has developed a best-in-class digital platform that enables customers in Kenya to compare, purchase, and manage insurance seamlessly.
The mTek platform partners with leading industry players including GA Insurance, Sanlam, and Britam. In September, mTek and Mastercard announced a collaboration to bring embedded insurance solutions across East Africa.
As part of this acquisition, mTek’s digital platform and insurance expertise will be
leveraged on a global scale, combining local insight with bolttech’s extensive global
insurance and protection ecosystem.
Stephan Tan, Chief Executive Officer, EMEA, 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.”
Bente Krogmann, Chief Executive Officer, mTek, said, “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.”
mTek’s existing leadership team, led by CEO Bente Krogmann, will continue to oversee operations in East Africa, providing stability and support for customers, partners and employees during this next phase of growth.
As part of the acquisition, mTek will also rebrand in due course.
Under the merger bolttech and mTek will work closely together to ensure a smooth integration for all employees, customers, and partners.
