Nairobi — Britam's innovation hub, Betalab, has invested Sh5 million in fintech startup Oye to expand access to insurance and fuel credit for boda boda riders.

The investment targets a critical gap in financial protection for riders, a group often exposed to economic shocks and road risks.

The funding will scale two key offerings on the Oye platform: Britam's Personal Accident Cover and a new "Songa Na Oye" fuel-on-credit service.

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The credit product allows riders to refuel even when short on cash, helping them keep operating during tough financial moments.

Oye's platform is USSD-based, making it accessible to riders without smartphones or internet. Riders can earn insurance through airtime and fuel purchases.

This removes paperwork and cost hurdles that often block informal workers from getting coverage.

To date, over 20,000 covers have been issued and 45 claims processed, showing early signs of traction.

"This is about protecting daily earners who keep our economy moving. It's inclusive innovation in action," said Evah Kimani, Britam's Director of Partnerships and Digital.

More than 11,000 boda-related crashes are reported each year, highlighting the urgency of rider protection.

Britam already covers over 4 million Kenyans through its microinsurance portfolio.

"What we're building is not just a platform, but a lifeline," said Kevin Mutiso, Oye's CEO.

"Insurance is finally meeting riders where they are--on the road, at the pump, and on their phones."

By Phineas Munene