Kenyan digital insurance platform mTek receives $1.25m investment to expand services and improve transparency in Africa.

Kenyan digital insurance platform mTek receives $1.25m investment from Verod-Kepple Africa Ventures and Founders Factory Africa. The funding will support mTek's expansion in Kenya and East Africa, aiming to enhance insurance transparency and efficiency in Africa where penetration remains below 3%. mTek plans to use technology like AI and machine learning to streamline processes and expand its Software-as-a-Service solution.