Washington, DC, April 12, 2021 – Global nonprofit Accion announced today that Amee Parbhoo has been promoted to the role of Managing Director at Accion Venture Lab, Accion’s impact investment fund manager for seed-stage inclusive fintech startups. Venture Lab provides capital and extensive support to innovative, scalable fintech startups that improve the reach, quality, and affordability of financial services for the underserved.
“After a global search, I am thrilled to announce the promotion of Amee Parbhoo as the new Managing Director of Accion Venture Lab. She is the right person to lead us in its next exciting chapter,” said Michael Schlein, President and CEO of Accion. “As the former Director of Investments, Amee helped to build Accion Venture Lab into a global leader in seed-stage investing in fintech for financial inclusion. By bringing capital and operational guidance to startups finding new ways to reach the world’s three billion financially underserved people, we aim to create a financially inclusive world in our lifetime.”
“I am excited to work with Amee as she continues to build our global portfolio of high-quality seed stage fintech startups and advance Accion’s mission of financial inclusion, especially as Venture Lab focuses on the impact of financial services on broader human needs,” said Esteban Altschul, Chief Operating Officer of Accion and chair of Venture Lab’s Investment Committee.
“Inclusive fintech startups are finding better ways to reach and serve financially underserved people and small businesses, and Venture Lab plays a critical role supporting these innovators at an early stage. I’m excited to expand our portfolio and our impact,” said Amee Parbhoo, Managing Director of Accion Venture Lab.
In her tenure with Accion, Amee has managed Venture Lab’s investment activities globally, as well as led Venture Lab’s governance and investments in Africa. Prior to joining Accion, she was a consultant at McKinsey & Company, worked on new products and technology at SKS Microfinance in India, and advised a range of fintech and financial inclusion enterprises around the world. She has a B.A. from Davidson College and an MBA from The Wharton School at University of Pennsylvania.
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 seed-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 over US $30 million across 52 early-stage startups that operate in more than 30 countries worldwide. As a result of Venture Lab’s investments, more than 18.5 million consumers and small businesses have benefited from the formal financial sector; 2.1 million individuals have been insured; and people have put US $166 million into savings.
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 160 partners in 55 countries. More at http://www.accion.org.