IslamicFinance.de

Accion, a non profit that supports microfinance institutions globally, has announced that its Accion Venture Lab is adding $33 million to its initial capital pool. Accion starts with the launch of a new $23 million fund, and an additional, separate $10 million investment will follow. The new fund comes from a group of third-party impact and commercial investors, bringing Venture Lab's total capital under management to $43 million. Launched in 2012 with $10 million in capital, Accion Venture Lab invests in fintech startups at the seed stage. The Venture Lab portfolio focuses on the fintech space that offers the potential to reach underserved communities. Today, those include insurtech, agricultural finance, digital lending, holistic MSME finance solutions, and personal financial management.