mTek, a leading Kenyan insurtech startup, has raised $1.25 million (KSh 167.8 million) in a new funding round spearheaded by Verod-Kepple Africa Ventures (VKAV) and Founders Factory Africa (FFA). The investment marks a significant milestone for the company and reaffirms its position at the forefront of technological innovation in the insurance industry.

This latest round of funding will be instrumental in accelerating mTek’s growth plans within Kenya and across East Africa.

Founded in 2019, mTek has been instrumental in reshaping the insurance landscape in Kenya. The company focuses on making insurance more accessible and affordable through paperless transactions and a customer-centric approach. With a vision to enhance insurance penetration throughout the continent, mTek employs artificial intelligence (AI) and machine learning to revolutionize the insurance value chain.

“We are now looking forward to further strengthening our strategic partnerships with underwriters, regulatory bodies, banks, intermediaries, enterprises and other stakeholders in the industry to foster innovation, expand access to insurance, and create value for end-users and the wider insurance ecosystem.” Bente Krogmann (CEO) said.

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Nigel Jr.
As a tech enthusiast and expert, Nigel Jr. is dedicated to providing in-depth and insightful content on all things technology. With a background in online journalism, product reviewing, and tech creation, Nigel has become a trusted source for all things tech.

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