Global impact investor Accion doubles down on financial inclusion with a fresh $61.6 million fund, earmarking nearly one-third of it for India. A Big Push for Fintech in
Global impact investor Accion doubles down on financial inclusion with a fresh $61.6 million fund, earmarking nearly one-third of it for India.
Accion, the Washington D.C.-based impact investor known for driving financial inclusion, has closed its second early-stage fund at $61.6 million. The fund, called Accion Venture Lab Fund II, is dedicated to backing early-stage fintech startups that are reshaping access to financial services in underserved markets.
The fund is part of Accion Venture Lab, which has now been rebranded as Accion Ventures. Since its launch in 2012, Accion Ventures has been one of the earliest supporters of disruptive fintech companies in developing economies, giving entrepreneurs the capital and guidance needed to bring financial services to people and businesses historically left out of the system.
The fund closed with commitments from a diverse set of investors, ranging from development finance institutions and foundations to family offices and strategic financial service companies. Notable Limited Partners include:
This wide base of support highlights the strong global appetite for impact-driven investing, particularly in fintech solutions that can bring millions of people into the formal financial system.
Accion plans to invest the fund in up to 30 companies worldwide, with a significant focus on India. In fact, 30% of the capital has been earmarked for Indian startups, reflecting the country’s rapid growth in digital financial infrastructure and rising demand for inclusive solutions.
According to Rahil Rangwala, Managing Partner at Accion Ventures, India presents one of the most exciting opportunities in fintech today. The country’s digital public infrastructure, including systems like UPI and Aadhaar, has laid the groundwork for fintechs to build innovative, large-scale solutions for consumers and small businesses.
Accion Ventures has already backed several high-potential fintechs from its second fund, including:
In India, Accion has a strong track record of investing in startups that are now scaling rapidly. Its portfolio includes:
Accion Ventures typically invests $500,000 to $1 million as the first institutional backer, giving startups the crucial capital they need to grow. Beyond just writing checks, Accion brings deep expertise, mentoring, and global networks that help early-stage companies build strong foundations.
The new fund will focus on:
By focusing on these segments, Accion aims to not only generate strong returns but also create measurable social impact by improving access to financial services in underserved regions.
Since 2012, Accion Ventures has invested more than $59 million across 76 startups in over 30 countries, achieving 13 successful exits so far. Its portfolio spans Africa, Latin America, Southeast Asia, India, and the United States.
This global reach enables the fund to identify unique opportunities, cross-pollinate ideas across regions, and support companies that are solving deeply local but widely resonant problems in financial access.
Access to affordable financial services is one of the biggest challenges in emerging markets. Small businesses often struggle to access credit, consumers face limited savings and insurance options, and millions remain outside the formal financial system.
With the rise of mobile technologies and digital payments, these barriers are beginning to fall. Accion believes fintech can play a pivotal role in connecting people to the digital economy, creating new opportunities, and ultimately reducing poverty.
Michael Schlein, President and CEO of Accion, explained:
“With the huge uptick in mobile technologies in emerging economies, we see a significant opportunity to connect many small businesses and low-income consumers to the digital economy for the first time. Leveraging third-party capital to deliver social and financial objectives is a critical part of our strategy.”
For Accion Ventures, this is about more than funding – it’s about finding and scaling the next generation of fintech companies that can drive impact globally.
As Amee Parbhoo, Managing Partner at Accion Ventures, put it:
“With this new funding, we seek to build on our success to date, finding and scaling some of the world’s most innovative fintech companies that provide a full suite of financial products and services to small businesses globally.”
Accion’s $61.6 million second fund signals a renewed global push for financial inclusion, with India as one of its core markets. By backing early-stage fintech startups with capital, expertise, and global networks, Accion is positioning itself as a catalyst for change in the way financial services reach underserved communities.
With 30% of the new fund dedicated to India and a global footprint spanning 30+ countries, Accion Ventures is betting that fintech innovation can unlock both strong financial returns and lasting social impact.
