New fund puts $141 million toward digital finance in the developing world


Digital finance could completely reshape the economies of the developing world. Everyone in fintech knows that. But no one funding startups has ever devoted their full attention to serving people outside the traditional financial system — until now.

Accion and Quona Capital this week launched the Accion Frontier Inclusion Fund, which devotes $141 million to using financial technology in order to reach people without bank accounts, credit cards, insurance or access to loans.

The Frontier Inclusion Fund will use its millions to support innovations in alternative credit and payments, finance for small business, and tech in the insurance industry. …

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Via: Mashable: Business

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