Accion has introduced the ultimate shut of its US$61.6 million Accion Enterprise Lab Fund II. Managed by Accion Impression Administration below its newly rebranded Accion Ventures technique, the fund will spend money on as much as 30 early-stage fintech startups which can be fixing systemic monetary entry challenges in underserved markets.
The fund secured backing from a various group of Restricted Companions, together with Dutch entrepreneurial growth financial institution FMO, Proparco, the Ford Basis, MetLife Asset Administration, Mastercard, and ImpactAssets.
Accion Ventures is focusing on startups that leverage next-gen applied sciences—together with embedded finance, different information, and Generative AI—to create accessible monetary options.
The fund’s current preliminary investments embody PaidHR in Nigeria, FinFra in Indonesia, Flowcart in Kenya, and Lobby within the US.
Extra than simply capital, Accion Ventures brings strategic and operational assist to its portfolio. Startups profit from governance, go-to-market experience, and a devoted Portfolio Engagement staff to assist them scale.
Additionally Learn: Navigating the gender divide within the Southeast Asia’s fintech panorama
The fund goals to be among the many first institutional checks for these corporations and retains reserves to assist profitable ventures in later rounds.
“With the large uptick in cell applied sciences in rising economies, we see a big alternative to attach small companies and low-income customers to the digital financial system for the primary time,” stated Michael Schlein, President and CEO of Accion.
Rahil Rangwala, Managing Companion at Accion Ventures, added: “We’re excited to assist unbelievable innovators utilizing tech like Gen AI and satellite tv for pc imagery to ship sustainable returns alongside real-world influence.”
The brand new fund builds on over a decade of influence investing below the unique Accion Enterprise Lab technique. Since 2012, Accion Ventures has deployed US$59.4 million throughout 76 corporations in 39 international locations, with 13 exits.
Notable exits embody Apollo Agriculture and Pula in Africa, and Lula, a digital SME lender in South Africa.
This shift to the Accion Ventures model indicators a sharpening of technique: a deal with discovering and scaling essentially the most impactful early-stage fintech corporations worldwide, particularly in markets typically neglected by conventional enterprise capital.
Additionally Learn: How the worldwide progress of fintech defies age and gender
With one among its earliest investments from this new fund going to Indonesia’s FinFra, the fund underscores its intent to double down on Southeast Asia.
The area’s speedy digitalisation, mobile-first populations, and enormous unbanked demographics make it a fertile floor for inclusive fintech innovation.
“From Jakarta to Manila, founders are growing localised options for distinctive monetary ache factors. We’re well-positioned to assist them with capital, networks, and experience,” stated Amee Parbhoo, Managing Companion at Accion Ventures.
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Picture Credit score: Accion Ventures
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