About Asaak
Asaak is a financial technology platform from Asaak that provides access to credit for small and medium-sized enterprises (SMEs) in emerging markets. It includes features such as loan applications, credit scoring, and repayment management to help businesses obtain necessary funding. Asaak aims to support SMEs that often struggle to acquire traditional financing. The platform uses alternative data to assess creditworthiness, enabling a more inclusive approach to lending. Key capabilities: loan application management credit scoring repayment tracking alternative data analysis customer support Best for: small and medium-sized enterprises that need access to financial resources for growth.
Asaak is a Kampala-based fintech that has revolutionized asset financing in Uganda by using technology to bypass the "lack of credit history" barrier. While it initially experimented with farmer lending in Soroti, it pivoted in 2019 to focus on the urban mobility sector. Today, it is arguably the most advanced "asset-backed" lender for boda-boda (motorcycle taxi) drivers in the country. The software platform acts as an end-to-end marketplace that connects drivers, asset dealers, and global investors.
Pros & Cons
- +Real users consistently mention that loan approvals often take less than 3 days
- +Allows drivers to move from "renting" to "owning," which can double their daily take-home income.
- +Asaak offers a Luganda-speaking AI chatbot and local branch support across major towns
- −The weekly repayment schedule is strict
- −While competitive for the African market, it is still considered high by users
- −Heavy Reliance on Third-Party Data
Features
Key features
- SafeBoda/Uber Integration
- Automatically pulls driver performance data to calculate creditworthiness.
- Lease-to-Own Engine
- Manages the legal and financial transition of the asset from Asaak to the driver over 12–24 months.
- Asaak Fuel Card System
- A digital credit line for fuel that prevents "empty tank" downtime and tracks usage.
- Luganda Chatbot
- An NLP-powered assistant that provides customer service in the local dialect for better accessibility.
Additional features
- Mobile Money Settlement
- Seamless automated payments via MTN MoMo and Airtel Money.
- Smartphone Financing
- A module allowing drivers to buy "work-ready" phones on credit.
- Credit Score Dashboard
- Shows drivers their current score and how close they are to owning their asset.
- GPS Asset Lockdown
- Remote security feature that can disable a vehicle in the event of theft or total default.
- USSD-Based App
- Allows users with basic "feature phones" to check balances and pay via *6115.
- Automated Repayment Reminders
- SMS-based "nudges" to help drivers stay on track with their weekly commitments.
Pricing
Countries & Languages
Available in
Interface languages
Billing currencies
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About Asaak
Asaak is a financial technology platform from Asaak that provides access to credit for small and medium-sized enterprises (SMEs) in emerging markets. It includes features such as loan applications, credit scoring, and repayment management to help businesses obtain necessary funding. Asaak aims to support SMEs that often struggle to acquire traditional financing. The platform uses alternative data to assess creditworthiness, enabling a more inclusive approach to lending. Key capabilities: loan application management credit scoring repayment tracking alternative data analysis customer support Best for: small and medium-sized enterprises that need access to financial resources for growth.
Asaak Details
Asaak's In-App Market Place
Does Asaak have an in-app market place?
Yes
How many Mini-Apps in the marketplace?
1
Mini Apps
N/A
Pricing Options
Accepted Payment Currencies
UGX(Uganda shillings)
Pros & Cons
- Real users consistently mention that loan approvals often take less than 3 days
- Allows drivers to move from "renting" to "owning," which can double their daily take-home income.
- Asaak offers a Luganda-speaking AI chatbot and local branch support across major towns
- The weekly repayment schedule is strict
- While competitive for the African market, it is still considered high by users
- Heavy Reliance on Third-Party Data
Asaak's Support Options
Email Address
support@asaak.comContact
0800-388884Asaak's Alternatives
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