Ugandan fintech company Asaak, known for providing asset financing to mobility workers in emerging markets, has acquired FlexClub Mexico, rebranding it as Asaak Mexico.
FlexClub Mexico, established by FlexClub, focused on providing mobility financing and car loans to drivers facing challenges in an informal market.
Asaak’s entry into the Latin American market aims to create financial solutions tailored to the region and introduce its incremental credit solutions to Mexico.
FlexClub will continue its work with car rental and leasing companies in South Africa.
Asaak plans to leverage the vehicle applications from FlexClub Mexico to expand its customer base.