Accion Ventures has closed its second fund at $61.6 million, nearly doubling the size of its inaugural $33 million fund launched in 2019. This milestone highlights the growing confidence of global investors in Africa’s fintech ecosystem, even as Silicon Valley interest in the region cools. The fund is set to accelerate the next wave of innovation in financial inclusion, supporting startups that are building tools to serve underserved consumers and small businesses.
The rebranded Accion Ventures, formerly Accion Venture Lab, reflects a broader vision of empowering fintechs worldwide. Backed by leading global institutions including FMO, Proparco, the Ford Foundation, MetLife, and Mastercard, the fund underscores strong international support for fintech-driven financial inclusion. By bridging investment capital with mission-driven entrepreneurs, Accion is positioning itself as a key player in shaping financial systems across emerging markets.
A central strategy of the fund is to make early-stage investments, with check sizes of up to $1 million. This targeted approach will provide entrepreneurs with the resources they need to scale innovative solutions while maintaining agility in adapting to dynamic market conditions. Co-managing partner Amee Parbhoo emphasized that the resilience of founders over the past six years reflects a unique capacity to thrive and transform challenges into opportunities.
The fund has already begun making strategic investments, backing Nigeria’s payroll management startup PaidHR and Kenya’s e-commerce platform Flowcart. Beyond Africa, it has invested in U.S.-based Foyer and Indonesia’s FinFra, reflecting Accion’s global footprint. With plans to allocate 30% of the fund to India, the strategy demonstrates a balance between African focus and international reach, all aligned with solving financial inclusion challenges.
Accion Ventures aims to foster long-term impact by supporting fintechs that combine innovation with social good. The fund is not only about growth but also about driving systemic change to reach the billions still excluded from formal financial systems. By investing in businesses that integrate technology with accessibility, Accion is laying the groundwork for a more inclusive financial future.
As fintech adoption accelerates across Africa and beyond, Accion Ventures’ $61.6 million fund is set to catalyze transformative growth. The firm’s commitment to entrepreneurs and underserved communities positions it as a leading force in advancing global financial inclusion, creating pathways for small businesses, digital economies, and individuals to thrive.
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