Markets
General Catalyst Overtakes Y Combinator on $5M+ Fintech Deals for the First Time in Several Quarters — 12 to 11 in Q2 2026
Crunchbase reported July 24 that General Catalyst participated in 12 fintech rounds of $5M or more in Q2 2026 against Y Combinator's 11 — the first time GC has led that count in several quarters — even though YC still crushes on total deal count, 41 to 13. That gap is the whole story: YC's volume is concentrated at pre-seed while GC is writing the growth checks, and the crossover at the $5M+ line suggests fintech's capital is consolidating upward. Global fintech raised $28.6B in H1 2026, up 22.7% year-over-year but down 17.3% from H2 2025's $34.6B, with Ramp's $750M Series F at a $50B+ valuation the largest round.
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