Accion Venture Lab launches $23M inclusive fintech startup fund

Accion Venture Lab  — the seed-stage investment arm of nonprofit Accion — has raised $23 million for a new inclusive fintech startup fund.

The Accion Venture Lab Limited Partnership, as it’s called, will make seed-stage investments in inclusive fintech startups, defined as ventures that “that leverage technology to increase the reach, quality, and affordability of financial services for the under-served at scale,” per a company release.

The new fund was raised with capital contributions from a number of participants, including the Ford Foundation, Visa Inc. and Proparco — the development finance institution of the French government.

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