Accion International raises $141 million for Frontier Inclusion Fund

Accion International has raised $141 million for its Frontier Inclusion Fund.

Accion will invest in fintech startups serving the more than two billion unbanked and underbanked customers worldwide.

Investors in the final close included AXA, JPMorgan Chase, Mastercard, MetLife, Prudential and multilateral organizations and foundations.

Globally, VC-backed fintech reached $12.7 billion last year, according to CB Insights.

Accion’s fund, managed by Quona Capital Management, already has invested in nine ventures.

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Photo credit: Accion

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