Y Combinator‘s Winter 2023 batch welcomed 48 fintech startups, representing nearly a fifth of the total W23 cohort.
Business-to-business (B2B) fintechs were central to its strategy — in fact, 85% of the fintechs accepted in W23 cater to businesses.
While 77% of the fintech companies in the W23 cohort are based in the United States, Y Combinator also turned to emerging markets. The accelerator invested in 5 emerging-market fintechs, most of which cater to businesses. A couple of examples include Colombia-based treasury automation platform Milio and account-to-account (A2A) payments solution Palomma.
Y Combinator’s top fintech market for its winter cohort was business spend and treasury management, accounting for 38% of YC’s W23 fintech investments. Companies in this category automate back-office financial operations for businesses, like treasury, invoice, and expense management.
Solutions here include accounts payable automation offerings Mercoa and inBuild, corporate spend management solutions Bujeti, Alaan, and JustPaid, as well as accounting solutions Porter and Truewind.
Using CB Insights data, we mapped all the fintech startups in YC’s latest winter batch across categories like business spend & treasury management, payments, and crypto & Web3.
