Global nonprofit Accion, headquartered in Washington, D.C., has taken a big step forward in its mission to expand access to financial services.
The organization just wrapped up its second Accion Ventures fund, raising $61.6 million to back innovative fintech startups across the world.
Who’s Backing the Fund
The fundraising round attracted a mix of new and long-time supporters.
Among the investors are commercial and impact asset managers, development finance institutions, family offices, foundations, and leading financial service companies.
Notable partners include FMO, Proparco, ImpactAssets, Ford Foundation, MetLife, and Mastercard.
Their commitment signals strong confidence in Accion’s strategy of combining financial returns with meaningful social impact.
From Venture Lab to Accion Ventures
As part of this milestone, Accion has rebranded its early-stage fintech investment arm from Accion Venture Lab to Accion Ventures.
The new identity reflects a broader vision: supporting companies that are shaping the future of fintech with tools like embedded finance, alternative data, and digital innovation.
The goal is to help these startups design inclusive solutions that empower underserved communities while also achieving sustainable growth.
Going Global with Local Insights
Accion Ventures isn’t just about writing checks—it’s about bringing global expertise while respecting local realities.
The team invests in diverse markets across Africa, South and Southeast Asia, Latin America, and the United States.
By combining insights from these regions, they help fintech startups build solutions that truly fit the needs of everyday people, from smallholder farmers to urban entrepreneurs.
More Than Money: Hands-On Support
Beyond financial backing, Accion Ventures provides practical, hands-on support.
Startups gain access to market expertise, board-level governance, strategic networking, and crucial introductions to equity and debt funding opportunities.
A dedicated Portfolio Engagement team works closely with founders to guide operations and strategy, making sure promising ideas turn into sustainable businesses.
First Four Investments Under the New Fund
The newly launched fund has already made its first moves.
The initial portfolio includes:
- PaidHR in Nigeria
- Foyer in the United States
- FinFra in Indonesia
- Flowcart in Kenya
Each of these companies is working on unique financial solutions tailored to the realities of their local markets.
Leadership at the Helm
Accion Ventures is steered by Managing Partners Rahil Rangwala and Amee Parbhoo, under the wider leadership of Michael Schlein, President and CEO of Accion.
Together, they aim to amplify the reach of fintech innovations that empower small businesses, farmers, and women, giving them the tools to make smarter financial choices and improve their quality of life.
A Decade of Impact
Since launching its investment strategy in 2012, Accion has deployed $59.4 million into 76 companies across more than 30 countries.
Over the years, the organization has seen 13 successful exits, proving that its approach works both for impact and financial sustainability.
Recent exits include:
- Apollo Agriculture (Kenya and Zambia), which equips farmers with financing, insurance, and training.
- Lula (South Africa), a digital lender serving small and medium enterprises.
- Pula (Africa and Asia), an insurtech firm providing agricultural risk solutions.
Looking Ahead
With its latest fund now secured, Accion Ventures is positioning itself to play an even bigger role in shaping the future of fintech for inclusion.
The big question now is—which groundbreaking startups will they back next, and how will these innovations transform access to finance in underserved communities worldwide?