Accion Launches USD 152.5 M Fund To Back Financial Institutions Serving Small Businesses Globally

Accion, a global nonprofit, announced the launch of the Accion Digital Transformation Fund, a USD 152.5 M fund for large financial institutions, including microfinance serving small businesses currently excluded from the world’s financial system. The firm will provide growth capital and strategic support to these companies for digital transformation.

In 2019, Accion launched the Accion Venture Lab, a USD 23 M inclusive fintech startup fund. This venture arm has backed over 65 seed and Series A companies operating in more than 30 countries across Latin America, Southeast Asia, and Africa. Notable investments include Konfio, Lulalend, Fairbanc and Khazna. The Accion Digital Transformation Fund investments will focus on companies serving micro, small, and medium enterprises (MSMEs) across South and Southeast Asia, Latin America and Africa.