Washington, DC, May 2, 2022 – Global nonprofit Accion announced today that Rahil Rangwala has been appointed Co-Managing Partner of Accion Venture Lab, Accion’s impact investment fund manager for early-stage inclusive fintech startups. Venture Lab takes a hands-on approach through active governance and a unique portfolio engagement function, providing strategic and operational support to startups that leverage new technologies, data, and analytical tools to engage underserved individuals and small businesses.
“After a global search, I am thrilled to announce that Rahil Rangwala will join Amee Parbhoo as Managing Partner of Accion Venture Lab,” said Michael Schlein, President and CEO of Accion. “During the pandemic, we’ve seen dramatically increased need for digital-first solutions that enable people to build their financial resilience. Rahil brings a deep knowledge of inclusive fintech that will help us identify and grow more innovative companies that are revolutionizing financial services for the world’s three billion underserved people.”
“I am excited to partner with Rahil as we embark on this next chapter of Venture Lab. Rahil’s extensive experience working with diverse fintech and platform startups will be extremely valuable as Venture Lab looks to the future of fintech and finding new ways to reach the financially underserved,” said Amee Parbhoo, Managing Partner of Accion Venture Lab.
“Accion Venture Lab is doing exciting work with startups around the world that are innovating to bring financial services to underserved populations. I’m looking forward to working with Amee and the rest of the Venture Lab team to grow the portfolio and scale our impact,” said Rahil Rangwala, Managing Partner of Accion Venture Lab.
Prior to joining Accion, Rahil was a Director at the Michael & Susan Dell Foundation, where he was responsible for running the India office and defining the strategic direction of the foundation’s Livelihoods and Financial Inclusion portfolio. He also led the Foundation’s global investment committee, where he worked closely with the program teams on the diligence for investments in all geographies. Rahil started his professional career at Bridgewater Associates, a global macro hedge fund. Rahil has a Bachelor’s in Computer Science from the University of Texas in Austin and a Master’s in Public Administration with a focus on International Development from New York University.
Created in 2012 by Accion and backed by commercial and impact investors since the launch of its third-party fund in 2019, Venture Lab has emerged as a leading early-stage investor in fintech for the underserved. Venture Lab creates value in its portfolio by providing investees with strategic and operational support across a broad range of functional areas. To date, Venture Lab has deployed nearly US $40 million across over 55 early-stage startups that operate in more than 35 countries worldwide. As a result of Venture Lab’s investments, more than 37 million consumers and small businesses have benefited from the formal financial sector; 9 million individuals have been insured; and 2 million people have saved US $690 on average per person.
Accion is a global nonprofit committed to creating a financially inclusive world, with a pioneering legacy in microfinance and fintech impact investing. We catalyze financial service providers to deliver high-quality, affordable solutions at scale for the three billion people who are left out of — or poorly served by — the financial sector. For 60 years, Accion has helped tens of millions of people through our work with more than 170 partners in 55 countries. More at http://www.accion.org.