Kenya’s digital economy is about to experience a game-changing move as global insurtech firm Bolttech and fintech subsidiary LOOP of NCBA Group join forces to launch LOOP FLEX.
This innovative Buy Now, Pay Later (BNPL) solution will debut in October, allowing customers to seamlessly finance and protect their devices.
Imagine owning a smartphone without the upfront cost worries while enjoying built-in protection against theft, accidental damage, and mechanical breakdown.
This product aims to make device ownership more affordable and safer for Kenyans who rely heavily on technology daily.
LOOP FLEX: Affordable device financing with embedded protection
LOOP FLEX combines flexible financing options with comprehensive insurance coverage embedded in the customer experience. Fixed repairs and extended warranties are part of the package, covering everything from liquid damage to battery cracks.
Customers benefit from certified repairs using genuine parts at authorised service centres, preserving device quality. For instance, in the case of theft, customers receive a gift voucher toward a new device after 30 days, with just a 10% deductible and a police report. Claims are handled digitally, making the process transparent and straightforward.
Expanding digital access and peace of mind
Eric Muriuki, CEO of LOOP DFS, underscored that this partnership is a milestone in delivering accessible, innovative financial solutions.
“We empower customers with devices they need through transparent financing and provide peace of mind through comprehensive protection,” he said.
Bolttech’s CEO for EMEA, Stephan Tan, emphasised the pivotal role of entering Kenya’s vibrant digital market alongside LOOP, a trusted local partner. Together, they embed protection into the device ownership journey to help more people afford and safeguard technology essential for work and life.
The launch of LOOP FLEX comes when many Kenyans face smartphone costs and risks as significant barriers. Bolttech and LOOP are redefining financial and insurance products by pairing financing with embedded protection, making technology ownership safer and more accessible across Kenya’s growing digital landscape.