TLDR:
- Accion has unveiled a $152.5m digital transformation fund with investors like British International Investment and Mastercard.
- The fund aims to support digital innovation in Africa, Latin America, and Southeast Asia.
Accion, a leading global nonprofit committed to financial inclusion, has announced the launch of a $152.5 million digital transformation fund. The fund’s investors include British International Investment, the Dutch entrepreneurial development bank FMO, IDB Invest, International Finance Corporation, and Mastercard. The fund is aimed at supporting digital innovation in Africa, Latin America, and Southeast Asia, with a focus on fintech companies that are advancing financial inclusion and inclusive growth in these regions.
This new fund comes at a critical time when digital transformation is increasingly important in the financial industry, especially in emerging markets where access to traditional banking services is limited. By investing in fintech companies that are addressing these challenges, Accion aims to drive positive economic and social impact in underserved communities.
The fund will specifically target companies that are leveraging technology to provide services such as digital payments, credit, insurance, and savings accounts to low-income individuals and small businesses. By supporting these innovative solutions, Accion hopes to create a more inclusive financial ecosystem that empowers marginalized populations and drives economic growth.
