Bolttech Expands into Kenya with LOOP Partnership to Revolutionize Device Financing and Protection

Global company bolttech has announced its strategic entry into the Kenyan market through a partnership with LOOP, the digital banking platform of NCBA Bank. The alliance will support the launch of LOOP Flex Device Financing in October 2025, marking a significant milestone in Kenya’s rapidly evolving digital finance ecosystem and representing bolttech’s first major expansion into East Africa.

Build the future you deserve. Get started with our top-tier Online courses: ACCA, HESI A2, ATI TEAS 7, HESI EXIT, NCLEX-RN, NCLEX-PN, and Financial Literacy. Let Serrari Ed guide your path to success. Enroll today.

The LOOP Flex Innovation

Revolutionary Buy-Now-Pay-Later Solution

The LOOP Flex programme integrates financing options with comprehensive insurance coverage for devices directly into the LOOP banking experience. This innovative approach addresses a critical gap in Kenya’s market where high upfront costs and the risk of damage or theft make smartphone ownership challenging for many consumers.

Comprehensive Protection Package

Customers will have access to protection against common risks such as theft, accidental damage, liquid spills and mechanical failure, along with the benefit of an extended warranty. All repairs will be handled at certified service centres using authentic parts, ensuring quality maintenance and service delivery.

Streamlined Claims Process

The protection includes theft protection with a gift voucher towards a new device after 30 days (subject to a 10% deductible and police report filed within 48 hours), one-time repair coverage for issues such as cracked screens and battery faults, and digital claims filing and tracking through bolttech’s user-friendly platforms.

bolttech: A Global Insurtech Powerhous

Strong Financial Foundation

In June 2025, bolttech completed a Series C funding round, raising $147 million at a valuation of $2.1 billion. The funding round attracted new strategic investors including Sumitomo Corporation and Iberis Capital, joining existing investors Dragon Fund, Baillie Gifford, and Generali.

Impressive Global Scale

Founded in 2020 by insurance veteran Rob Schimek, bolttech has grown rapidly with its B2B2C approach, connecting about 700 distribution partners with more than 230 insurers, covering over 6,500 products across the world. The company’s total annualized quoted premiums reached $65 billion in June 2025.

Strategic Joint Venture

As part of the Series C funding, bolttech entered into a joint venture with Sumitomo Corporation to deliver embedded insurance programmes and complementary end-to-end services for partners in Asia, demonstrating the company’s commitment to regional expansion and strategic partnerships.

LOOP: Kenya’s Digital Banking Pioneer

Leading Digital Transformation

LOOP DFS, a fintech company wholly owned by the NCBA Group, operates across six markets in East and West Africa. Originally launched as NCBA LOOP in 2017, the platform has evolved from a traditional digital banking service into a comprehensive fintech solution designed to meet modern financial needs.

Embedded Finance Leadership

LOOP has pioneered Kenya’s transition toward embedded finance, integrating credit and payments directly into transactions. This evolution aligns with global trends where banking services become embedded into everyday commercial activities rather than operating as separate processes.

Market Position

LOOP was one of Kenya’s earliest digital banks and helped popularize neobanking in the country. However, as competition intensified with well-funded competitors like Ecobank-backed Fingo, Branch MFB, Umba, and others entering the market, LOOP expanded beyond digital banking into a comprehensive payments and credit infrastructure model.

Kenya’s Digital Economy Landscape

Dynamic Digital Growth

Kenya represents one of Africa’s most dynamic digital economies, with robust mobile phone and internet penetration driving financial technology adoption. According to the Central Bank of Kenya (CBK), Kenyans transacted Sh6.59 trillion on mobile money in 2024 compared to Sh2.3 trillion ten years ago, highlighting the surging demand for digital financial services.

Mobile Money Leadership

The success of Safaricom’s M-PESA and its overdraft facility Fuliza demonstrates Kenya’s appetite for embedded financial solutions. This foundation creates an ideal environment for bolttech’s device protection services, which complement the existing digital finance ecosystem.

Smartphone Penetration Challenges

In Kenya, smartphones power payments, work, education, and entertainment, but high upfront costs and the risk of damage or theft make ownership challenging for many consumers. LOOP Flex addresses this barrier by offering affordable monthly payments with built-in comprehensive protection.

The Global Embedded Insurance Revolution

Massive Market Opportunity

The global embedded insurance market reached $10.45 billion in 2025 and is forecast to climb to $40.99 billion by 2030, registering a robust 31.43% CAGR. The market is experiencing unprecedented growth as coverage migrates from standalone policies to invisible protection seamlessly bundled inside everyday digital journeys.

Consumer Preference Shift

Market surveys show that 31.6% of personal-lines buyers already prefer embedded offers, putting pressure on insurers to provide instant integration capabilities. Post-pandemic digital habits have lifted embedded adoption rates far ahead of direct-to-consumer portals.

Technology-Driven Growth

API-first architectures shorten product-launch cycles, real-time data improves underwriting accuracy, and regulators encourage innovative channels that shrink protection gaps. By 2033, embedded insurance is projected to account for 15% of global gross written premiums, reaching approximately $1.1 trillion.

Fuel your success with knowledge that matters. Enroll in our Online programs: ACCA, HESI A2, ATI TEAS 7, HESI EXIT, NCLEX-RN, NCLEX-PN, and Financial Literacy. Join Serrari Ed now and take control of your future.

Strategic Partnership Benefits

Leadership Vision

LOOP DFS CEO Eric Muriuki emphasized the partnership’s strategic importance: “We are delighted to welcome bolttech to Kenya and to partner with a global leader in embedded protection. This partnership enables us to make high-quality devices more affordable while giving our customers the peace of mind that comes with comprehensive protection.”

Market Entry Strategy

bolttech CEO EMEA and group chief investment officer Stephan Tan stated: “Kenya is one of Africa’s most dynamic digital economies and we are proud to enter the market alongside LOOP, a trusted and innovative local partner. Together, we are embedding protection into the device ownership journey, enabling more people to afford and safeguard the technology they rely on every day.”

Customer-Centric Approach

The partnership represents a step towards delivering innovative, accessible and digitally driven financial solutions that empower customers to live and work with confidence, addressing real-world challenges faced by Kenyan consumers in device ownership and protection.

Competitive Landscape and Market Context

Regional Expansion Strategy

This launch marks bolttech’s entry into Kenya, supporting its strategy to grow in emerging digital markets. With Kenya’s strong fintech ecosystem and mobile-first population, the country represents a natural starting point for the insurtech’s African expansion.

Market Differentiation

Unlike traditional Buy-Now-Pay-Later (BNPL) plans, LOOP Flex combines financing and insurance in one seamless package. This integration provides a unique value proposition in Kenya’s competitive fintech landscape, where consumers increasingly seek comprehensive solutions rather than standalone products.

Strategic Credibility

By collaborating with LOOP, bolttech gains strong local credibility and market understanding, while LOOP strengthens its innovative product portfolio with global expertise. This mutual benefit creates a strong foundation for market penetration and growth.

Technology and Innovation Framework

Digital-First Approach

The solution leverages bolttech’s device lifecycle management platform, offering customers comprehensive protection powered by advanced technology. The platform enables simple digital claims filing and tracking, ensuring customer convenience and operational efficiency.

Real-Time Integration

The program demonstrates the power of embedded insurance, where protection becomes an automatic part of the transaction rather than a separate purchase decision. This integration mirrors successful models like Safaricom’s Fuliza and reflects the growing BNPL trend in Kenya.

Scalable Infrastructure

The partnership benefits from bolttech’s proven technology infrastructure, which already supports hundreds of distribution partners globally. This scalability ensures that the Kenya launch can serve as a foundation for broader East African expansion.

Market Impact and Future Implications

Industry Transformation

The partnership represents a significant development in Kenya’s embedded finance evolution, where financial services integrate seamlessly into everyday commercial activities. This trend aligns with global movements toward more convenient and integrated financial solutions.

Economic Inclusion

By making smartphones and essential gadgets more affordable and secure, LOOP Flex has the potential to drive digital inclusion in Kenya. Access to protected devices enables participation in the digital economy, supporting broader economic development goals.

Regional Expansion Potential

With LOOP DFS operating across six markets in East and West Africa, the partnership creates opportunities for bolttech to expand its footprint across the region. Success in Kenya could serve as a model for similar partnerships in other African markets.

Risk Factors and Challenges

Market Competition

Kenya’s fintech sector is highly competitive, with multiple players offering various digital financial solutions. The success of LOOP Flex will depend on effective differentiation and customer adoption in this crowded market.

Regulatory Environment

Operating in Kenya’s financial services sector requires navigating complex regulatory requirements. Both companies must ensure compliance with insurance, banking, and consumer protection regulations while maintaining service quality.

Consumer Education

The success of embedded insurance solutions often depends on consumer understanding and trust. Educating Kenyan consumers about the benefits and mechanics of integrated device protection will be crucial for adoption.

Industry Expert Perspectives

Global Trend Validation

According to industry research, 94% of insurance executives believe embedded insurance is critical to their future strategies. This statistic underscores the strategic importance of bolttech’s Kenya expansion and the LOOP partnership.

Market Timing

The timing of this launch aligns with broader industry trends. Deloitte predicts that by 2028, over 30% of all insurance transactions will happen through embedded channels, with significant growth expected in emerging markets like Kenya.

Technology Integration

The partnership demonstrates the practical application of Embedded Insurance 2.0, where coverage is so seamlessly integrated it becomes almost invisible to the consumer. This represents a significant evolution from traditional insurance distribution models.

Future Outlook and Growth Potential

Expansion Roadmap

The Kenya launch serves as bolttech’s gateway to the African market, with potential for expansion across LOOP’s existing six-market footprint in East and West Africa. Success in this market could accelerate regional growth plans.

Product Development

The partnership creates opportunities for additional embedded insurance products beyond device protection. Future offerings could include travel insurance, health coverage, and other protection products integrated into LOOP’s digital platform.

Market Leadership Position

By entering Kenya through a strategic partnership with an established digital banking platform, bolttech positions itself as a market leader in African embedded insurance. This early-mover advantage could provide significant competitive benefits.

Conclusion

bolttech’s entry into Kenya through the LOOP partnership represents more than a simple market expansion—it signals the arrival of a new era in African embedded insurance. By combining global expertise with local market knowledge, the partnership addresses real consumer needs while pioneering innovative financial solutions.

The LOOP Flex program launching in October 2025 has the potential to transform how Kenyans access and protect their essential technology devices. By integrating financing with comprehensive insurance coverage, the solution removes traditional barriers to smartphone ownership while providing peace of mind through professional protection services.

As Kenya continues to lead Africa’s digital transformation, partnerships like this demonstrate how global fintech companies can contribute to financial inclusion and economic development. The success of this initiative could serve as a model for similar collaborations across the African continent, potentially reshaping how embedded insurance services are delivered in emerging markets.

With bolttech’s proven global platform, strong financial backing, and LOOP’s deep understanding of the Kenyan market, this partnership is well-positioned to capture significant market share while advancing the broader agenda of digital financial inclusion across East Africa.

Ready to take your career to the next level? Join our Online courses: ACCA, HESI A2, ATI TEAS 7 , HESI EXIT  , NCLEX – RN and NCLEX – PN, Financial Literacy!🌟 Dive into a world of opportunities and empower yourself for success. Explore more at Serrari Ed and start your exciting journey today! ✨

Track GDP, Inflation and Central Bank rates for top African markets with Serrari’s comparator tool.

See today’s Treasury bonds and Money market funds movement across financial service providers in Kenya, using Serrari’s comparator tools.

Photo source: Google

By: Montel Kamau

Serrari Financial Analyst

2nd September, 2025