Global impact investor Accion Ventures has closed a $61.6 million fund to back early-stage fintech startups focused on expanding financial access.
The fund, formerly Accion Venture Lab, will invest across Africa, Asia, Latin America, and the U.S., with 30% earmarked for Indian startups. Investors include FMO, Proparco, ImpactAssets, the Ford Foundation, MetLife, and Mastercard.
Early bets include PaidHR (Nigeria), Foyer (U.S.), FinFra (Indonesia), and Flowcart (Kenya).
Since 2012, Accion’s fintech arm has supported 76 companies in 30+ countries, with 13 exits. The new fund is expected to fuel up to 30 more investments in areas like embedded finance, alternative data, and mobile platforms.