Amee Parbhoo, Co-Managing Partner de Accion
Global nonprofit Accion announced the finalization of a $61.6 million investment fund targeting early-stage fintech companies seeking financial inclusion. Investors include Dutch business development bank FMO, Proparco, ImpactAssets, the Ford Foundation, MetLife and Mastercard.
Known as the Accion Venture Lab Fund II, it is part of an investment strategy that has been in operation for more than 10 years and aims to meet social and financial objectives through venture capital.
The fund received support from well-known investors, including commercial and impact asset managers, development finance institutions, foundations and strategic financial services firms.
According to information shared by the fund, the first investments will go to companies such as PaidHR in Nigeria, Foyer in the United States, FinFra in Indonesia and Flowcart in Kenya.
Promoting financial inclusion in the world
With the launch of this new batch of funding, the investment strategy has been rebranded from Accion Venture Lab to Accion Ventures. The initiative seeks innovative technology companies that promote financial inclusion in Africa, South and Southeast Asia, Latin America, and the United States, with the potential to generate attractive financial returns.
According to Global Findex 2025, globally, 1.6 billion people do not have an account at a financial institution or have an inactive account, while the annual financing gap for micro, small and medium-sized enterprises is as high as $5.7 trillion.
“With the tremendous rise of mobile technologies in emerging economies, we see a significant opportunity to connect many small businesses and low-income consumers to the digital economy for the first time,” said Michael Schlein, President and CEO of Accion.
Schlein emphasized that leveraging third-party capital to meet social and financial goals is a critical part of its strategy, which seeks to “support the growth of disruptive, early-stage companies that provide affordable, high-quality financial services and can help reduce poverty and create opportunity for millions of people around the world.”
Since its inception in 2012, the program has invested US$59.4 million in 76 companies in more than 30 countries, achieving 13 total exits.
Beyond capital, the fund provides its portfolio companies with hands-on support in areas such as market expertise, corporate governance, and strategic guidance from a dedicated team of investors and former technology company operators.
Amee Parbhoo, Managing Partner at Accion Ventures, explained that going forward, the focus is on identifying and scaling disruptive technologies: “We believe our global portfolio and local focus allow us to spot and respond to trends faster, driving local innovations on a global scale.”
“We are looking to be one of the first institutional checks a company receives and will continue to get involved early, maintaining sufficient reserves to support our winners as they scale,” concluded Parhboo.
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