Ever wondered how startups grow by buying other companies?
Asaak, founded in 2016, is a fintech company offering loans for motorcycles and smartphones to people who couldn't get traditional bank loans. This approach not only addressed a critical financial gap but also spurred economic empowerment in Uganda.
Now they've set their sights on to Mexico, through a strategic acquisition of FlexClub Mexico. With over 300,000 active Uber drivers and a smartphone penetration of 93%, yet with less than half the adult population banked, Mexico presents a fertile ground for Asaak's mission-driven approach.
This move raises several questions: How will Asaak's experience in Uganda's unique market translate to Mexico's diverse economy? With Mexico's significant unbanked population, what new opportunities and challenges will Asaak encounter?
Join us on Things Have Changed for a deep dive into Asaak's groundbreaking journey and the visionary leadership steering it into new frontiers.