Quona closes $332m financial inclusion fintech fund

Quona closes $332m financial inclusion fintech fund

Quona Capital, a venture firm focused on financial inclusion in emerging markets, has closed its third fintech fund at $332 million.

The fund exceeded its $250 million target and brings the firm’s aggregate committed capital to over $745 million.

It will make investments in technology companies that are expanding access to financial services for underserved consumers and businesses in Latin America, India, Southeast Asia, Africa and Mena.

Quona got its start at nonprofit financial inclusion specialist Accion before becoming independent in 2015. it has made 75 investments and says that its portfolio companies have served more than 30 million retail customers and nearly nine million SMEs.

Monica Brand Engel, who leads Quona’s investments in Africa and Mena, says: “Our prior fund performance, robust pipeline of inclusive fintechs, and growing LP interest in our offerings are ringing endorsements of our view on the prospects of impact-oriented venture investing in emerging markets.”

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