Bolttech, the global insurance technology firm backed by Hong Kong billionaire Richard Li, has taken a major step into Africa’s digital insurance landscape with its acquisition of Kenyan insurtech platform mTek.
The deal, first reported by Business Insider Africa, marks a strategic push into a region where insurance uptake remains low but digital adoption is accelerating rapidly.
Although the value of the transaction was not disclosed, the move firmly establishes Nairobi as Bolttech’s regional launchpad on the continent.
The firm, which already operates in 39 markets across Asia, Europe, North America, and Africa, aims to scale its embedded insurance model in East Africa—an area where insurance penetration sits below three percent despite increasing mobile and digital engagement.
Founded in 2019, mTek has become one of Kenya’s most prominent fully digital insurance platforms.
The platform enables more than 350,000 users to compare quotes, buy coverage, and manage their policies without traditional paperwork.
mTek’s partnerships with over 45 insurers—including GA Insurance, Sanlam, and Britam—have helped broaden access to affordable insurance products. In September, the company also teamed up with Mastercard to advance embedded insurance services across the region.
Bolttech says the acquisition will allow it to integrate mTek’s on-the-ground expertise with its global technology infrastructure.
Stephan Tan, the company’s CEO for Europe, the Middle East, and Africa, described the takeover as a “moment of acceleration” for Bolttech’s African strategy, telling Business Insider Africa that mTek’s platform aligns with the group’s mission to expand access to protection products.
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mTek CEO Bente Krogmann added that the partnership will help scale the company’s inclusive insurance vision, bringing more relevant and innovative solutions to customers across East Africa.
As reported, mTek’s leadership team will remain in place during the transition period, with a full rebrand expected as integration progresses. With mTek’s flexible instalment plans, broad insurer network, and paperless policy management tools set to be extended to wider markets, the acquisition positions Bolttech to deepen its roots in Africa’s fast-evolving insurance sector.
