Accion’s Venture Lab Closes Two New Investments
Wednesday, November 13, 2013
Boston, MA/Washington, D.C., November 13, 2013 – Accion today announced two new investments made through Venture Lab, its $10-million seed-capital initiative to invest in and support innovative start-up companies that help expand global financial inclusion for the world’s poor.
Both companies are focused on developing new technologies that promise pioneering developments in mobile money, microinsurance and delivery models for the poor. The new additions to its portfolio are:
Kopo Kopo, the world’s first mobile money merchant services platform. Kopo Kopo makes it easier for small businesses to accept mobile money from customers to purchase goods and services. It is based in Nairobi, Kenya, with operations in Kenya, Tanzania and Rwanda.
MeraDoctor, which helps low-income Indian families more easily access and afford healthcare – often the largest financial burden its clients shoulder. MeraDoctor’s unique “health-plus-finance” model combines 24-hour advice from top-quality doctors with health insurance and discounts on tests and medicines to prevent poverty-inducing health shocks right from the first symptom. It is based in India.