Global impact investor Accion closes $61.6 million second fund, aims to allocate 30% to Indian startups

Washington DC-based impact investor Accion has closed a $61.6 million fund to invest in early-stage fintech startups that work towards financial inclusion.

This is the second fund for Accion Venture Lab, which has invested in Indian fintech startups such as MSME lending company Aye Finance, consumer lending startup Olyv (previously Smartcoin), and fintech infrastructure startup Transbnk, among others.

“Around 30% of the funds raised will be allocated for India and companies centred around India,” said Rahil Rangwala, managing partner, Accion…