Insurtech firm bolttech has partnered with LOOP, the digital banking platform of NCBA Financial institution, to supply Kenyan customers a brand new technique to finance and insure their digital gadgets.
The alliance will help the launch of a brand new insurance coverage product, LOOP Flex Gadget Financing (LOOP Flex), in October.
The LOOP Flex programme integrates financing choices with insurance coverage protection for gadgets straight into the LOOP banking expertise.
Clients can have entry to safety in opposition to frequent dangers equivalent to theft, unintentional injury, liquid spills and mechanical failure, and the good thing about an prolonged guarantee.
Licensed service centres will deal with all repairs, guaranteeing the usage of genuine components.
LOOP DFS CEO Eric Muriuki stated: “We’re delighted to welcome bolttech to Kenya and to accomplice with a worldwide chief in embedded safety. This partnership allows us to make high-quality gadgets extra reasonably priced whereas giving our prospects the peace of thoughts that comes with complete safety.
“It’s one other step in the direction of delivering progressive, accessible and digitally pushed monetary options that empower our prospects to dwell 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 acknowledged: “Kenya is considered one of Africa’s most dynamic digital economies and we’re proud to enter the market alongside LOOP, a trusted and progressive native accomplice.
“Collectively, we’re embedding safety into the gadget possession journey, enabling extra folks to afford and safeguard the expertise they depend on day-after-day.”
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 traders together with Sumitomo Company and Iberis Capital.
