Alternative asset financing for ‘boda boda’ drivers in East Africa. Asaak has a market leading credit scoring system and loan performance rate, and is expanding its offering to include personal loans, fuel loans, and smartphone loans.
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In Africa 100 million people use taxis everyday, but African mobility is undercapitalized. It’s currently a slow and expensive process, and drivers lose 50% of earnings paying rent on vehicles. With access to credit, the world’s largest untapped mobility market would skyrocket.
Asaak provides asset financing to boda drivers in Uganda - enabling them to own their own motorcycle on credit. Drivers also need access to microloans for fuel and smartphones as well as personal loans, and it is Asaak’s mission to enable these entrepreneurs that will catalyze growth in Africa.
Asaak is looking to partner with commercial banks, mobile network operators and insurance companies across Africa.
