Accion Venture Lab closes $33 million to invest in inclusive fintech startups in emerging markets including MENA & Pakistan

Accion, a global nonprofit focused on financial inclusion announced last week that its seed-stage investment initiative Accion Venture Lab has closed $33 million in fresh capital; with $23 million of it coming for Accion Venture Lab’s new fund from third-party investors and an additional $10 million investment from Accion itself. Launched in 2012 with $10 million in capital, Accion Venture Lab will now have $43 million under its management.

“The new [$23 million] fund brings together a group of third-party impact and commercial investors that share Venture Lab’s commitment to innovative fintech startups that leverage technology to increase the reach, quality, and affordability of financial services for the underserved at scale,” said Accion in a statement on Tuesday.

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