Kenya’s mTek Acquired by Singapore’s bolttech In Major Insurtech Exit

Kenyan insurtech mTek has been acquired by Singapore-based unicorn bolttech, marking one of East Africa’s rare confirmed exits in a tough funding cycle.

Founded in 2019 by Bente Krogmann (CEO) and Christopher Osore, mTek built a fully paperless digital insurance platform serving more than 350,000 customers, integrating with over 45 insurers and recently expanding its embedded insurance capabilities through a Mastercard partnership.

The acquisition gives bolttech an immediate, license-ready entry into East Africa’s insurance market, while mTek’s leadership team will remain in place during the transition. The deal delivers an exit for investors, including Verod-Kepple Africa Ventures, Founders Factory Africa, and Finclusion Group, that backed the startup across its previous funding rounds, including USD 3 M in 2022 and USD 1.25 M in 2024.