Accion raises funds to invest in seed stage financial inclusion fintech startups

Non-profit group Accion International is boosting its investment initiative for seed stage fintech startups working on financial inclusion, raising $23 million from investors and adding another $10 million from its own pocket.

Launched in 2012 with $10 million in capital, Accion Venture Lab invests in startups that use technology to increase the reach, quality, and affordability of financial services for the underserved.

The lab has built up a portfolio of 36 companies in Asia, Africa, Latin America and North America, working in areas such as insurtech, agricultural finance, digital lending, holistic MSME finance solutions, and personal financial management.

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