Accion has officially closed its $61.6 million Accion Venture Lab Fund II, LP, now rebranded as Accion Ventures, to invest in early-stage fintech companies addressing the needs of financially underserved populations globally. Managed by Accion Impact Management, the fund will target up to 30 new investments across Africa, South and Southeast Asia, Latin America, and the United States, providing both financial returns and social impact.
The fund attracted commitments from existing and new investors, including commercial and impact asset managers, development finance institutions, foundations, family offices, and strategic financial service companies. Notable Limited Partners include FMO, Proparco, ImpactAssets, the Ford Foundation, MetLife, and Mastercard. Initial investments under the new fund include PaidHR in Nigeria, Foyer in the U.S., FinFra in Indonesia, and Flowcart in Kenya.
Accion Ventures focuses on fintech innovations that leverage emerging technologies such as embedded finance, alternative data, and mobile platforms to expand access to financial services. According to the Global Findex 2025, 1.6 billion people remain without active financial accounts, and a $5.7 trillion financing gap exists for micro, small, and medium-sized businesses, highlighting the potential for disruptive fintech solutions.
Since 2012, Accion’s early-stage strategy has deployed $59.4 million across 76 companies in more than 30 countries, with 13 full or partial exits. Notable exits include Apollo Agriculture in Kenya and Zambia, Lula in South Africa, and Pula, which provides agricultural insurtech solutions across Africa and Asia. Beyond funding, Accion Ventures provides startups with strategic guidance, market expertise, board governance support, and networking opportunities to accelerate growth.
Michael Schlein, Accion’s President and CEO, emphasized the opportunity to connect small businesses and low-income consumers to the digital economy through mobile technologies, delivering both social and financial outcomes. Managing Partners Rahil Rangwala and Amee Parbhoo highlighted the fund’s global-local approach, early engagement with startups, and the goal of scaling innovative fintech solutions that provide affordable, high-quality financial services to underserved communities worldwide.
