Asaak

Asaak is an asset financing and digital lending platform for gig economy workers and small businesses in Africa that provides loans for income-generating tools like motorcycles, fuel, and smartphones.

Key capabilities include:

• Boda boda (motorcycle) financing on a lease-to-own basis, with collection at an office or disbursement centre after approval
• Fuel loans and smartphone loans to support day-to-day work needs for riders and informal entrepreneurs
• Digital applications with offline support, letting customers apply via an online form or visit an office for onboarding and verification by a Credit Officer
• Repayments that build an Asaak Credit Score (ACS), using machine learning and partner data points (such as trips and earnings) to support underwriting and help customers unlock additional products over time

Available on Web (online application)

Target users include boda boda riders, ride-hailing drivers, and informal SMEs, delivered through a B2B2C model with partners such as SafeBoda, Uber, Bolt, and Jumia.

The product is notable in East Africa for combining physical disbursement centres and local offices (including Kampala and Jinja in Uganda) with a data-driven credit scoring approach aimed at expanding access to asset financing for underserved workers.