You can’t stop. A fintech startup. In the year After raising a staggering amount of capital through 2021, the financial technology startup industry has been hit hard this year as public markets retreated and many formerly high-flying fintech giants hit a valuation wall. Late-stage fintech startups hit a wave of valuations.
Data from the seed market recently showed that smaller fintech startups are similarly vulnerable. But, looking at the latest batch of startups that have passed through US accelerator Y Combinator from another perspective, you can’t really tell that fintech has lost much founder favor.
Of the 223 companies participating in the new batch of Y Combinator — not counting the companies participating that moved under the radar — 79 had enough of a fintech theme to make it into the category, according to a quick ranking on ShowDay’s website. . That’s a big part.
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There is no shame in counter-market optimism; One could argue that startups need at least some definition to get off the ground. But overall, we were surprised to see not only a lot of fintech startups in the group, but also new names in categories that have long been felt or perhaps passed on to our eyes. Again, contrarian market optimism isn’t a travesty—it’s a bet.
