About InsurTech sector in Kenya
The InsurTech sector in Kenya comprises 50 companies, including 16 funded companies having collectively raised $51.7M in venture capital money and private equity. Out of these, 3 are Series A+ funded.
InsurTech sector in Kenya has seen 1 acquisition.
This sector includes companies offering tech-enabled insurance services and IT infrastructure and software solutions for offering and managing insurance services.
InsurTech sector is also known as Insurance Tech, InsureTech or Insurance IT.
Companies included in InsurTech
Companies offering tech solutions for customers to purchase and manage their insurance and also software products and data solutions primarily for the insurance industryCompanies excluded in InsurTech
Companies offering traditional insurance services like Traditional Insurers, Insurance BPOs, Insurance Distributors, etc.Top InsurTech Companies in Kenya
There are more than 50 companies in InsurTech in Kenya. mTek Insurance Services is the top InsurTech company in Kenya, ranked using Tracxn Score (what's this?).
Here are 5 of the top InsurTech companies in Kenya:
Company | Description | Location | Founded | Current Stage | Private Funding Raised |
|---|---|---|---|---|---|
App based insurance solution | Nairobi (Kenya) | 2019 | Acquired | $4.25M | |
Provider of online micro-health insurance platform for individuals | Nairobi (Kenya) | 2018 | Series A | $16.7M | |
Provider of a software suite for insurers and underwriters | Nairobi (Kenya) | 2019 | Seed | $5.5M | |
AI-enabled platform offering risk assessment solutions | Nairobi (Kenya) | 2020 | Seed | - | |
Internet-first insurance broker | Nairobi (Kenya) | 2017 | Seed | - |
Companies founded year-on-year in the InsurTech sector in Kenya
9 InsurTech startups in Kenya were founded in 2019 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2026 | - |
2025 | - |
2024 | - |
2023 | 1 |
2022 | - |
2021 | 1 |
2020 | 6 |
2019 | 9 |
2018 | 5 |
2017 | 6 |
Stage-wise distribution of InsurTech sector companies in Kenya
Out of the total 50 InsurTech companies in Kenya, 16 have secured funding. Among them, 3 have reached Series A or higher, and 2 to Series B or beyond.
Founded - 50
Funded - 16
Series A+ - 3
Series B+ - 2
Series C+ - 1
Company Stage | No. of companies |
|---|---|
Founded | 50 |
Funded | 16 |
Series A+ | 3 |
Series B+ | 2 |
Series C+ | 1 |
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Funding Trends in the InsurTech sector in Kenya
Total funding year-on-year in the InsurTech sector in Kenya
The InsurTech sector in Kenya saw a total funding of more than $51.7M in the last 10 years. The most amount of funding was in 2022 at more than $16.7M.
- Total Funding
Year | Total Funding |
|---|---|
2024 | $1.25M |
2023 | $14.8M |
2022 | $16.7M |
2021 | $1.81M |
2020 | $5.36M |
2019 | $11.3M |
2018 | $40K |
Recent Funding Rounds in InsurTech in Kenya
In the year 2024, till March 2024, InsurTech companies in Kenya have raised $1.25M in equity funding across 1 round.
Here are some recent, important funding rounds in InsurTech companies in Kenya:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Seed | 5036 | Mar 18, 2024 | ||
Series B | 2177 | Jun 19, 2023 | ||
Series A | 2393 | Sep 01, 2022 | and 8 more | |
Seed | 1397 | Aug 02, 2022 | and 4 more | |
Seed | 3410 | Jun 20, 2022 |
Top Investors in InsurTech in Kenya
Everywhere is the top investor in InsurTech companies in Kenya based on number of companies invested.
Here are some top investors in InsurTech companies in Kenya:
Investor | Location | Top Portfolio Companies |
|---|---|---|
New York City (United States) | - | |
Nairobi (Kenya) | ||
Zurich (Switzerland) | - | |
Amsterdam (Netherlands) | - | |
Cologne (Germany) | - |
M&A activity in InsurTech sector in Kenya
In the year 2025, till December 2025, 1 acquisition happened in InsurTech sector in Kenya.
Here are some recent, important acquisitions in InsurTech sector in Kenya:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Dec 03, 2025 |
Acquisition trends in InsurTech sector in Kenya
Here are the acquisition trends in InsurTech sector in Kenya:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | - |
2025 | 1 |
2024 | - |
2023 | - |
2022 | - |
2021 | - |
2020 | - |
2019 | - |
2018 | - |
2017 | - |
Top News in InsurTech in Kenya
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Creditville and Turaco Forge Pioneering Partnership to Elevate Financial and Health Well-beingNairametrics•Jan 23, 2024•Creditville, Turaco
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Airtel, Prudential's Low-Cost Insurance Scheme Reaches 370,000 Customers in Four MonthsInsuranceNewsNet•Jul 18, 2023•Airtel Uganda, Digital Taswiq, Turaco
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Airtel Money Partners With Prudential Uganda and Turaco to Launch ‘Hospital Sente’, an Affordable Health and Protection ProductFintech Finance•Mar 21, 2023•Airtel Uganda, Digital Taswiq, Turaco, Airtel and 1 other
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Lipa Later Announces Insurance Partnership with Lami TechnologiesAfrica Business Communities•Oct 06, 2022•Lipa Later, Lami
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Power and Turaco partner to provide affordable insurance for gig workers across AfricaAfrica Business Communities•May 05, 2022•Power, Turaco
•
Sendy & Lami Technologies Partner to Launch Per-Trip Insurance PoliciesKenyan Wall Street•Sep 23, 2021•Lami, Sendy
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Kenyan insurtech startup Turaco raises $1.2m seed investmentVentureburn•Dec 12, 2019•Turaco, Morrow, Mercy Corps, Musha Ventures and 2 others
