Accion closes $61.6 Mn Second Fund; commits 30% to Indian startups

Global impact investor Accion has closed its second early-stage fund, raising $61.6 million, with a pronounced focus on promoting financial inclusion through fintech innovation. 

The fund is under the Accion Venture Lab (now rebranded as Accion Ventures) initiative, aimed at supporting early-stage fintech startups serving underserved populations globally.

Notably, the fund is committed to allocate 30% of its capital to Indian startups. Previous investments made by Accion Venture Lab in India include ventures like Aye Finance (MSME lending), Olyv (formerly SmartCoin, consumer lending), and TransBnk (fintech infrastructure).

Accion Ventures plans to deploy its capital across diverse emerging markets, spanning Africa, South and Southeast Asia, Latin America, and the United States, targeting up to 30 new fintech investments globally. 

Its investing strategy seeks companies with potential for both social impact and strong financial returns, especially those using embedded finance, alternative data, and digital solutions for underserved communities.

Since 2012, its investment arm has deployed over $59 million across 76 companies in more than 30 countries, demonstrating notable success including several full or partial exits.