you can’t stop fintech startups. After raising staggering capital through 2021, the fintech startup sector hit a wall of valuations this year as public markets pulled back and many once-high-flying fintech giants took over. pieces. Late-stage fintech startups have been caught in the wave of revaluations.
Small fintech startups are proving equally vulnerable, seed market data recently showed. And yet, looking back at the recent cohort of startups that have passed through the American accelerator Y Combinator, we cannot really say that fintech has lost much of its founding favor.
Of the 223 companies that participated in the latest Y Combinator batch — not counting companies participating while operating under the radar — 79 had a fintech theme heavy enough to put them in the category, according to a Demo Day page sorted by the accelerator. This is an important part.
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There’s no shame in being bullish against the market; you could say that startups, by definition, need at least some of it to get started. But we were a little surprised to see not only so many fintech startups generally in the group, but also new names in categories that we’ve long felt too full, if not outdated. Again, counter-market optimism is not a transgression, it’s a gamble.