nternational funders committed US$58 billion for financial inclusion in 2020, an increase of $6 billion from the previous year. Analysis in this paper shows that while private funding growth slowed to 4 percent, public funding grew by 17 percent over 2019 levels, influenced, in part, by the COVID-19 pandemic. Analysis of all funder types shows that while financial inclusion is poised to remain a priority for funders in the years ahead, the “what,” the “how,” and the “who” of funding are evolving.