Accion Venture Lab closes $33 million to invest in inclusive fintech startups

Accion was early to “fintech” when it launched its $10 million Venture Lab investing initiative in 2012. Since then, digital and mobile financial services have exploded, attracting $37 billion in venture capital last year.

But the need for early-stage capital has only increased among emerging-market fintech companies creating affordable and transparent products for low-income customers.

Now, Accion Venture Lab has closed a second fund of $33 million, including  $23 million from a roster of investors that included Dutch development bank FMOFord FoundationMetLife FoundationVisa and Prudential Financial. Accion is investing another $10 million of its own capital.

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