Accion Venture Lab Launches $23m Inclusive Fintech Startup Fund
By Jake Bright
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.
Photo courtesy of lirneasia.