Quona Capital, a enterprise agency centered on monetary inclusion in rising markets, has closed its second fintech fund with $203 million in commitments, led by anchor investor Accion Worldwide.
The fund focuses on scale-up stage fintech corporations which are increasing entry to monetary companies for underserved customers and small companies in Latin America, Africa, India and Southeast Asia.
Quona obtained its begin at nonprofit monetary inclusion specialist Accion earlier than turning into unbiased in 2015. The enterprise agency now has $363 million in belongings beneath administration and two exits beneath its belt.
The brand new fund has already invested in 9 fintechs, together with Pakistani cost and financing platform Finjs, Indian client lender ZestMoney, and Mexican challenger financial institution Klar.
Monica Model Engel, associate, Quona, says: “Our portfolio of promising enterprise fashions selling monetary inclusion in rising markets demonstrates the connection between revenue and function.
“Fintech for inclusion brings marginalized customers and small companies to the mainstream and might encourage much more entrepreneurial problem-solving in historically underserved communities.”