Triodos Fair Share Fund and Triodos Microfinance Fund, managed by Triodos Investment Management, have invested in the Accion Frontier Inclusion Fund, the world’s first global fintech fund for the underserved. Global financial inclusion pioneer Accion and fund manager Quona Capital announced the final close of the Fund on 5 March 2017.

  • Three billion people around the world are underserved by the financial sector, with limited or no access to quality savings, credit, insurance, and payments.
  • The Accion Frontier Inclusion Fund aims to address this solvable problem by catalyzing fintech innovations that can radically improve the quality and availability of financial services for the underserved.
  • Alternative credit, payments, small and medium enterprise (SME) finance, and insurtech are among the solutions the Fund aims to accelerate.
  • The Fund focuses on emerging markets in sub-Saharan Africa, Latin America, and Asia (with a particular emphasis on India and Southeast Asia) that have demonstrated the greatest potential for inclusive fintech.

Karel Nierop, Fund Manager at Triodos Investment Management: "The Accion Frontier Inclusion Fund targets a very significant and largely untapped market opportunity in the delivery of financial services to the underserved based on the convergence of two global trends: new technologies and growth of purchasing power amongst low-income households in emerging markets. We see it as a very innovative addition to our inclusive finance portfolio and an exciting opportunity to strengthen our connection with the fintech space, which can trigger direct follow-on investments for our funds in the future."

To-date, the Accion Frontier Inclusion Fund has invested in:

  • Konfio, which uses unique data analytics and an online platform to deliver affordable working capital loans to micro-businesses in Mexico
  • Creditas, an innovative provider of secured home and auto equity loan solutions for the emerging middle class in Brazil
  • Coins, a mobile payments platform leveraging the blockchain to provide a comprehensive suite of services for low income consumers in the Philippines
  • NeoGrowth, the first company to offer card and other electronic payments receivables financing to SMEs in India
  • Yoco, a mobile point of sale and value added service solution for micro and small merchants in Africa, to help expand the acceptance environment for digital payments
  • Invoinet, a reverse factoring platform for small and medium enterprises in Argentina and Brazil
  • Eseye, a global Internet of Things service provider enabling pay-as-you-go asset financing and access to prepaid utilities in remote locations in emerging markets
  • IndiaMART, India’s largest B2B listing and transactions platform for SMEs, which is making a strong foray into associated payment and financial solutions
  • CreditMantri, a credit advisory platform in India, utilizing traditional and alternative data to provide consumers enhanced credit profiles and access to improved credit options

The pipeline is dynamic and growing. The Fund plans announcements of additional investments in exciting innovators expanding the quality and availability of financial services in emerging markets.

The oversubscribed Fund represents USD 141 million in commitments from an array of leading institutional investors including global insurance companies, investment banks and asset managers, a university endowment, prominent foundations and family offices, as well as development finance institutions.

See below for the full press release by Accion.
Press release Accion Frontier Inclusion Fund Document 612.1 KB