Dealflow | February 17, 2017

Accion Venture Lab sells its stake in Mexican fintech startup

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In 2013, Accion was the first investor in Clip, which has grown to become one of Mexico’s largest digital payment providers.

Based in Mexico City and Palo Alto, Clip serves micro and small enterprises in Mexico that otherwise lack access to financial services.

Clip’s rise is part of the growing Mexican startup scene, particularly in fintech.

It is the second successful exit for Accion Venture Lab, a $10 million seed-stage fintech investor launched in 2012. In November, the fund exited India-based lender Varthana.