TechCrunch
Accion, a global nonprofit, announced on Tuesday the launch of the Accion Digital Transformation Fund, a $152.5 million fund for large financial institutions, including microfinance serving small businesses currently excluded from the world’s financial system. The firm said in a statement that it will provide growth capital and strategic support to these companies for “digital transformation.” For over six decades, the nonprofit has been active in the financial services sector: first, by developing and scaling solutions tailored to small business orders, smallholder farmers, and women; second, by providing investments and advisory services to traditional financial institutions and microfinance companies, which in turn create accessible products.