Kenyan Digital Online Insurance Platform mTek Secures USD 1.25 M

mTek, a Kenyan-based digital online insurance platform, has secured an investment of USD 1.25 M (Ksh.167.8 million) from Verod-Kepple Africa Ventures and Founders Factory Africa. The new funding is targeted to support the firm’s rapid growth to increase its presence in the Kenyan and East African insurance market while solidifying its position as a leader in insurtech innovation.

mTek, which offers a seamless and convenient avenue to access insurance products through its innovative platform connecting the overall insurance ecosystem, is leveraging technology to enhance transparency and efficiency to unlock insurance for everybody and increase insurance penetration in Africa.