From Car Wash to Exit: How Bente Krogman Built mTek (Acquired by Bolttech)

Insurance penetration in Kenya has hovered at 2% for decades. Why? Because the industry tries to sell annual policies to people who earn daily wages. It’s a relevance problem, not a demand problem.
Bente Krogman didn't start in fintech. She grew up in a German village of 300 people, managed mosquito net logistics in Tanzania, and launched a car wash in Nairobi. That grit led her to found M-Tek, an Insurtech that pivoted from a B2C marketplace to a B2B2C orchestration platform. In 2026, M-Tek was acquired by global Insurtech unicorn Bolttech, a rare and significant exit in the Kenyan tech ecosystem.
In this episode, Samora Kariuki sits down with Bente to decode the journey from "idea to exit." They discuss the brutal reality of B2C customer acquisition costs, why "embedded insurance" is the only path to scale, and the specific unit economics that make micro-insurance profitable (hint: it’s not the 10-shilling premiums).
In This Episode, You Will Hear:
The Origin Story: How running a manual car wash in Nairobi taught Bente the fundamentals of African business.
The Pivot: Why MTek moved from a B2C marketplace to a B2B2C "embedded" model to solve the trust deficit.
Unit Economics: Why the "middle segment" (500 KES premiums) is more profitable than ultra-micro products.
The "Netflix" Problem: Why complex claims processes kill insurance adoption faster than price. Hint - How long does it take to pay for your Netflix subscription that costs the same as a Micro-insurance premium?
Partnership Strategy: How to sell to incumbents by focusing on their distribution headaches.
The Exit: Inside the acquisition by Bolttech, why it was a "people decision" over a commercial one.

Key Quote: "If you cannot explain a micro-insurance product to me in 20 seconds, it is not a product. Just because it is cheap doesn't mean people will buy it if the process is like buying a car."
Connect with Us:
Samora Kariuki (Host):   / samorakariuki  
Bente Krogman (Guest):   / bente-krogmann  
Frontier Fintech: ⁠https://frontierfintech.substack.com/⁠