Accion Ventures Closes $61.6B Fund to Back African Fintech Startups

The Abuja Chamber of Commerce and Industry (ACCI) will host the 20th Abuja International Trade Fair (AITF) from September 25 to October 6, 2025, highlighting sustainable business growth aligned with UN Sustainable Development Goals under the theme “Sustainability: Consumption, Incentives, and Taxation.” ACCI also launched the 'Buy Africa, Build Africa' initiative to promote African products and intra-African trade. Meanwhile, Accion Ventures, a US-based social impact investor, has raised a $61.6 million fund aimed at early-stage fintech startups in Africa and other global markets to enhance financial inclusion for underserved populations and small businesses. The fund, backed by prominent investors like FMO, Proparco, Ford Foundation, Mastercard, and MetLife, will support startups using technologies such as AI, embedded finance, and satellite imagery, with initial investments including Nigerian HR platform PaidHR and Kenyan B2B e-commerce startup Flowcart. Accion plans to write checks up to $1 million, focusing on fintech innovations that address real-world problems for MSMEs, farmers, and low-income consumers. This fund marks an expansion from its previous $33 million fund and reflects growing confidence in emerging fintech founders in Africa and beyond.