Insurtech firm bolttech has partnered with LOOP, the digital banking platform of NCBA Financial institution, to supply Kenyan shoppers a brand new solution to finance and insure their digital units.
The alliance will assist the launch of a brand new insurance coverage product, LOOP Flex Machine Financing (LOOP Flex), in October.
The LOOP Flex programme integrates financing choices with insurance coverage protection for units immediately into the LOOP banking expertise.
Prospects could have entry to safety in opposition to frequent dangers similar to theft, unintentional harm, liquid spills and mechanical failure, and the advantage of an prolonged guarantee.
Licensed service centres will deal with all repairs, making certain the usage of genuine elements.
LOOP DFS CEO Eric Muriuki mentioned: “We’re delighted to welcome bolttech to Kenya and to associate with a worldwide chief in embedded safety. This partnership permits us to make high-quality units extra inexpensive whereas giving our prospects the peace of thoughts that comes with complete safety.
“It’s one other step in the direction of delivering revolutionary, accessible and digitally pushed monetary options that empower our prospects to stay and work with confidence.”
LOOP DFS, a fintech firm wholly owned by the NCBA Group, operates throughout six markets in East and West Africa.
bolttech CEO EMEA and group chief funding officer Stephan Tan said: “Kenya is one among Africa’s most dynamic digital economies and we’re proud to enter the market alongside LOOP, a trusted and revolutionary native associate.
“Collectively, we’re embedding safety into the machine possession journey, enabling extra folks to afford and safeguard the expertise they depend on on daily basis.”
In June, bolttech accomplished a Sequence C funding spherical, elevating $147m (S$188.67m) at a valuation of $2.1bn. The funding spherical, which started in December 2024, attracted new buyers together with Sumitomo Company and Iberis Capital.
