Ugandan Fintech Asaak Raises USD 30 Mn Pre-Series A Round To Scale

Asaak, a Ugandan asset financing startup, has secured USD 30 Mn in pre-Series A equity and debt funding. The round saw the participation of new and existing investors including Resolute Ventures, Social Capital, HOF Capital, Founders Factory Africa, End Poverty Make Trillions, Decentralized VC, and several angel investors.

Asaak works with several partners including mobility and e-commerce platforms to make motorcycle ownership easier for the riders who earn a living by operating motorcycle taxis (bodaboda). Asaak approves riders for motorcycle financing using behavioral and financial data like their earnings, trips made and their ratings from platforms like Bolt, Jumia, Safeboda, and Uber.