NAIROBI, Kenya, Aug 4 – Kenyan insurtech firms have raised Sh8.5 billion over the past five years, according to a new report by Pan-African investment firm AfricInvest. The report highlights growing investor interest in insurance technology.
The growth is attributed to initiatives such as the BimaLab accelerator and the regulatory sandbox, which have helped position Nairobi as one of Africa’s leading insurtech hubs alongside Johannesburg and Lagos.
Kenya ranked second on the continent, behind South Africa, whose insurtech firms raised Sh18.37 billion over the same period. The report said African insurtech companies raised over $300 million in the last five years, with funding peaking in 2025 at $80.6 million.
The largest transaction in 2025 was South African startup Naked’s $38 million Series B, making it the most heavily capitalized insurtech on the continent. The findings come as Kenyan startups raised Sh16.3 billion in the first half of 2026, slightly below the Sh17 billion raised in the same period last year, according to Africa: The Big Deal.
The report ranked Kenya third in Africa for startup funding, behind Egypt, which attracted Sh42.3 billion, and Nigeria, which raised Sh32.8 billion.
Source: capitalfm.africa
