1 year ago
The Ugandan mobility fintech Asaak precocious dispersed its tentacles to Latin America aft it bought the Mexican plus financing concern Flexclub. The fintech’s CEO suggested that his company’s palmy and profitable microfinance concern partially influenced the determination to get the Mexican startup.
Asaak’s Profitable Business
The Ugandan mobility fintech Asaak precocious said it acquired car financing startup Flexclub Mexico for an undisclosed sum. According to 1 report, Asaak’s acquisition of the Mexican plus financing startup volition perchance exposure the Uganda-based startup steadfast to the Mexican microfinance marketplace and the South African car rental market. Flexclub has reportedly pivoted distant from the Mexican market.
Kaivan Sattar, the co-founder and CEO of the Ugandan fintech, suggested that his company’s palmy and profitable microfinance concern had partially influenced the determination to get the Mexican startup.
As explained successful a Techcabal report, Asaak’s determination to get Flexclub Mexico mightiness person been influenced by the information that the aforesaid capitalist funds some startups.
“As progressive investors successful some Asaak and FlexClub, simple.Capital() spotted an accidental to procure the acquisition of FlexClub’s Mexican concern by Asaak. We congratulate some absorption teams connected the closing of this transaction which we judge has important benefits for some Asaak and FlexClub,” Blake Musgrove, spouse and Chief Investment Officer astatine Simple.capital, reportedly said.
Meanwhile, Tinashe Ruzane, the CEO and co-founder of Flexclub, said a determination to exit the Mexican marketplace has enabled the startup to absorption its efforts connected the South African market.
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