Ugandan mobility fintech company, Asaak, has acquired FlexClub Mexico as part of its expansion into the Latin American market. Asaak, originally focused on providing motorbike financing to operators in Uganda, has grown to finance more than 5,000 motorcycles, as well as smartphones and fuel for operators. FlexClub Mexico, which provides car financing for Uber drivers, will now operate as Asaak Mexico. This acquisition allows Asaak to collaborate with FlexClub Mexico's team to develop innovative financial solutions tailored for the Latin American region. The move aligns with Asaak's strategy to introduce its incremental credit solutions to Mexico and beyond. The financial terms of the acquisition were not disclosed.
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