Accion has concluded the final round of fundraising, raising a total of USD 61.6 million to support early-stage fintech enterprises.
Continuation of Investment Strategy
The initiative now known as Accion Ventures has maintained its investment strategy since 2012. During this time, the company has deployed USD 59.4 million into 76 ventures across more than 30 countries and achieved 13 exits. Recent investments include Apollo Agriculture in Kenya and Zambia, Lula in South Africa, and Pula, which specializes in agricultural insurance solutions for Africa and Asia.
New Commitments and Rebranding
The new fund garnered support from a diverse range of investors, including commercial entities, development finance organizations, family offices, and foundations. Participating institutions include the Dutch entrepreneurial development bank FMO, Proparco, ImpactAssets, Ford Foundation, MetLife, and Mastercard. Initial investments under this vehicle have been made in PaidHR in Nigeria, Foyer in the United States, FinFra in Indonesia, and Flowcart in Kenya.
Accion Impact Management has rebranded its early-stage fintech division from Accion Venture Lab to Accion Ventures. The company is dedicated to finding firms that leverage technology to enhance financial inclusion, particularly in regions such as Africa, South and Southeast Asia, Latin America, and the United States.
Addressing Global Financial Exclusion
According to Accion officials, this fund aims to address gaps identified by the Global Findex 2025 report, which states that 1.6 billion individuals are still unbanked or inactive account holders. Additionally, they noted the USD 5.7 trillion annual financing gap faced by micro, small, and medium enterprises (MSMEs) as a potential opportunity for fintech models focusing on embedded finance and alternative data.
Operational Support to Portfolio Companies
Accion Ventures also offers operational assistance to its portfolio firms, including access to governance structures, networking opportunities, and technical guidance, beyond financial investments. This support is intended to strengthen early-stage companies in addition to providing capital.
