From Uganda to Mexico: The Unusual Path of a Startup’s Expansion
- Asaak, a Ugandan online lender, expanded its business to Latin America, specifically Mexico.
- The founder, Kaivan Khalid Sattar, chose Mexico due to its stronger rule of law and more receptive business environment.
- Asaak acquired FlexClub, which provided immediate access to 150 electric motorcycles.
Expanding Asaak's business to Mexico demonstrates the appeal of the Mexican market for fintech startups. The stronger rule of law and more receptive business environment in Mexico compared to Uganda make it an excellent area for experimentation and growth. The acquisition of FlexClub also provides Asaak with immediate access to resources for deployment.
