Accion, the global nonprofit advancing financial inclusion, has announced the close of its second venture fund, Accion Venture Lab Fund II, at $61.6 million.
The fund, now operating under the rebranded Accion Ventures, will support up to 30 early-stage fintech companies that are building solutions for the 1.6 billion people worldwide who remain underserved by traditional financial systems.
Building on a Decade of Impact Investing
For more than a decade, Accion has invested in fintech startups that combine financial returns with meaningful social impact.
Since 2012, the team has deployed nearly $60 million into 76 companies across 30 countries, helping scale innovative models that bring access to credit, savings, insurance, and payments to small businesses and low-income consumers.
Notable past investments include:
- Apollo Agriculture – delivering inputs, financing, and training to smallholder farmers in Kenya and Zambia
- Lula – a digital bank serving small businesses in South Africa
- Pula – agricultural insurance technology for farmers across Africa and Asia
The latest fund has drawn commitments from a diverse group of limited partners including FMO, Proparco, ImpactAssets, the Ford Foundation, MetLife, and Mastercard.
Early investments from the fund already include PaidHR in Nigeria, Foyer in the United States, FinFra in Indonesia, and Flowcart in Kenya.
Why This Matters
According to the World Bank’s Global Findex 2025, 1.6 billion people remain unbanked or underbanked.
Meanwhile, small and medium-sized enterprises face a staggering $5.7 trillion annual financing gap.
Accion Ventures sees this as a call to action—and a market opportunity—to back entrepreneurs building products that expand financial access.
By leveraging technologies such as embedded finance, alternative data, and conversational commerce, the fund aims to:
- Bring small businesses into the digital economy for the first time
- Unlock affordable credit, savings, and insurance for underserved communities
- Empower women, farmers, and entrepreneurs with tools to grow their livelihoods
As Michael Schlein, President and CEO of Accion, explains,
“With the huge uptick in 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. This fund seeks to support disruptive companies providing high-quality, affordable financial services that can help reduce poverty and create opportunity for millions of people globally.”
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Hands-On Support Beyond Capital
Accion Ventures doesn’t stop at writing checks. Its dedicated Portfolio Engagement team provides startups with market expertise, governance support, and connections to networks that are often out of reach for early-stage founders.
By combining global insights with local presence across Africa, Asia, Latin America, and the U.S., the fund helps innovators scale solutions faster and more sustainably.
Toward a Fairer Financial System
The launch of Accion Venture Lab Fund II underscores Accion’s broader mission to build a fair and inclusive economy.
Over its history, Accion has helped strengthen nearly 300 financial service providers in 77 countries, reaching almost half a billion people.
With this new fund, Accion Ventures is signaling to entrepreneurs, investors, and impact leaders that the future of finance must be more inclusive.
By supporting startups at the intersection of innovation and social impact, Accion is helping reshape the global financial system—one where smallholder farmers, women entrepreneurs, and underserved communities can thrive.
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