Accion has completed the final close of a USD 61.6 million fund designed to back early-stage financial technology companies.
The initiative, now operating under the name Accion Ventures, continues an investment strategy that has been in place since 2012. Over this period, USD 59.4 million has been deployed into 76 companies across more than 30 countries, with 13 exits recorded. Among the most recent were Apollo Agriculture in Kenya and Zambia, Lula in South Africa, and Pula, which offers agricultural insurance solutions across Africa and Asia.
New commitments and rebrand
The new fund secured commitments from a mix of commercial investors, development finance institutions, family offices, and foundations. Institutions taking part include the Dutch entrepreneurial development bank FMO, Proparco, ImpactAssets, Ford Foundation, MetLife, and Mastercard. The first investments from this vehicle include PaidHR in Nigeria, Foyer in the United States, FinFra in Indonesia, and Flowcart in Kenya.
With the fund’s launch, Accion Impact Management rebranded its early-stage fintech arm from Accion Venture Lab to Accion Ventures. The group is focused on identifying firms that use technology to expand financial inclusion, particularly in Africa, South and Southeast Asia, Latin America, and the United States.
Officials from Accion said the initiative seeks to address gaps highlighted in the Global Findex 2025, which reports that 1.6 billion people remain unbanked or inactive account holders. They added that the USD 5.7 trillion annual financing shortfall faced by micro, small, and medium enterprises presents opportunities for fintech models built around embedded finance and alternative data.
Representatives explained that the fund is intended to channel third-party capital into ventures that not only aim for sustainable returns but also extend affordable services to underserved customers. They highlighted the role of mobile technology and internet access in enabling startups to reach low-income communities and small businesses in emerging economies.
Accion Ventures also provides operational support to portfolio companies, including access to governance, networks, and technical guidance, in an effort to strengthen early-stage firms beyond capital investment.
