About Asaak
Asaak is a company based in Kampala (Uganda) founded in 2016 by Anthony Leontiev, Dylan Terrill, and Edward Egwalu.. Asaak has raised $30 million across 4 funding rounds from investors including Social Capital, Founders Factory Africa and End Poverty. Make Trillions.. The company has 3 employees as of December 31, 2021. Asaak offers products and services including Boda Boda Loan, Smartphone Loan, and Fuel Loan. Asaak operates in a competitive market with competitors including Moneylion, SoFi, Avant, Oportun and Earnest, among others.
- Headquarter Kampala, Uganda
- Employees 3 as on 31 Dec, 2021
- Founders Anthony Leontiev, Dylan Terrill, Edward Egwalu
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Asaak Financial Services Ltd
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$30 M (USD)
in 4 rounds
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Latest Funding Round
$30 M (USD), Seed
Jan 17, 2022
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Investors
Social Capital
& 6 more
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Employee Count
3
as on Dec 31, 2021
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Products & Services of Asaak
Asaak offers a comprehensive portfolio of products and services, including Boda Boda Loan, Smartphone Loan, and Fuel Loan. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Loan for purchasing motorcycles to support transportation needs
Loan for acquiring smartphones to enhance business operations
Loan related to fuel or related services for boda bodas
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Funding Insights of Asaak
Asaak has successfully raised a total of $30M across 4 strategic funding rounds. The most recent funding activity was a Seed round of $30 million completed in January 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Seed — $30.0M
- First Round First Round
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan, 2022 | Amount | Debt – Conventional - Asaak | Valuation |
investors |
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| Jan, 2022 | Amount | Seed - Asaak | Valuation |
investors |
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| Jul, 2021 | Amount | Seed - Asaak | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Asaak
Asaak has secured backing from 7 investors, including venture fund and institutional investors. Prominent investors backing the company include Social Capital, Founders Factory Africa and End Poverty. Make Trillions.. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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US focused VC firm investing in seed & growth stage companies
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Founded Year | Domain | Location | |
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Early-stage venture capital funding is provided to founders.
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Founded Year | Domain | Location | |
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HOF Capital is engaged in venture capital investments.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Asaak
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Asaak
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Asaak Comparisons
Competitors of Asaak
Asaak operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Moneylion, SoFi, Avant, Oportun and Earnest, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Instant consumer loans and mobile banking are offered online.
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| domain | founded_year | HQ Location |
Various consumer loans and financial services are offered online.
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| domain | founded_year | HQ Location |
Consumer loans are facilitated via an online platform.
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| domain | founded_year | HQ Location |
Online platform for consumer loans
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| domain | founded_year | HQ Location |
Student loan refinancing and personal loans are offered by Earnest.
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| domain | founded_year | HQ Location |
Credit cards are provided for consumers, businesses, and healthcare financing.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Asaak
Frequently Asked Questions about Asaak
When was Asaak founded?
Asaak was founded in 2016 and raised its 1st funding round 1 year after it was founded.
Where is Asaak located?
Asaak is headquartered in Kampala, Uganda.
Is Asaak a funded company?
Asaak is a funded company, having raised a total of $30M across 4 funding rounds to date.
How many employees does Asaak have?
As of Dec 31, 2021, the latest employee count at Asaak is 3.
What does Asaak do?
Asaak was founded in 2016 in Kampala, Uganda, as an online platform in the fintech sector focused on consumer lending. Loans are extended to individuals according to their credit scores for purchases such as motorbikes, smartphones, and fuel, with options for customized amounts, terms, and repayment schedules. Funds are disbursed to registered bank or mobile money accounts, and early repayments are supported. The service is accessible via an Android app.
What products or services does Asaak offer?
Asaak offers Boda Boda Loan, Smartphone Loan, and Fuel Loan.
Who are Asaak's investors?
Asaak has 7 investors. Key investors include Social Capital, Founders Factory Africa, End Poverty. Make Trillions., DAO.VC, and Resolute Ventures.
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