For founders, the real test of an accelerator isn’t the demo day — it’s what happens in the 12–24 months after. Consistent follow‑on funding is one of the clearest indicators that an accelerator’s alumni are attractive to institutional investors and that the program builds durable value, not just hype.

Below is a practical overview of which accelerators have the strongest track record of alumni raising follow‑on funding, what “good” looks like in terms of follow‑on rates, and how to interpret these numbers when choosing a program.

Note: Follow-on performance varies by geography, industry, vintage year, and funding climate. Think of this as a directional guide, not a rigid ranking.

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How to evaluate follow‑on funding performance

Before looking at specific accelerators, it helps to understand the metrics investors and founders use:

• Follow‑on funding rate (or “funding success rate”)
  Percentage of portfolio companies that raise at least one subsequent round (e.g., Seed → Series A).

• Time to next round
  How long it takes alumni to raise their next institutional round after demo day or program completion.

• Capital efficiency
  How much capital alumni raise relative to initial capital invested (accelerator + early seed).

• Survival rate
  Percentage of companies that remain active (not shut down or fully dormant) after a given number of years.

• Stage progression
  What portion of alumni reach Series A, B, C, or exit via acquisition/IPO.

When comparing accelerators, you want consistent performance across multiple cohorts, not just a few outliers.

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Global accelerators with strong follow‑on funding records

Y Combinator (YC)

Why it matters:
YC is widely regarded as the benchmark for accelerator performance, especially on follow‑on funding and long‑term outcomes.

Key strengths:

• Very high percentage of alumni raising follow‑on rounds (Seed and Series A), especially in software and fintech.
• Large network of top‑tier VCs that track each batch and pre‑empt rounds.
• Strong internal capital stack:
  • Standard deal + optional YC Continuity for growth‑stage rounds.
  • Alumni often get “soft‑committed” capital before demo day.

Best for:

• B2B SaaS, fintech, dev tools, productivity, marketplace, and AI startups.
• Global teams willing to align with Silicon Valley norms and investor expectations.

Considerations:

• Very competitive admission; expectations for growth and pace are high.
• Brand sometimes creates a “growth at all costs” perception that doesn’t suit every founder or business model.

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Techstars

Why it matters:
Techstars combines a large global footprint with strong investor connections, especially for B2B and industry‑specific startups.

Key strengths:

• Hundreds of alumni raising institutional seed and Series A yearly.
• Multiple vertical and corporate‑backed programs:
  • Fintech, mobility, health, climate, defense, etc.
  • Corporate partners (e.g., major banks, card networks, insurance companies) can become customers and strategic investors.
• Global spread increases chances of finding a program aligned with your geography and sector.

Best for:

• B2B and vertical‑specific startups that benefit from corporate partnerships.
• Founders outside Silicon Valley seeking international investor access.

Considerations:

• Quality and follow‑on strength can vary by city and managing director.
• Research specific programs, alumni portfolios, and MD reputation before applying.

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500 Global (formerly 500 Startups)

Why it matters:
500 Global has historically focused on emerging markets and early‑stage founders that may be overlooked by top‑tier US accelerators.

Key strengths:

• Good follow‑on rates in LatAm, MENA, SEA, and other emerging markets.
• Large international mentor and investor pool.
• Strong emphasis on growth marketing, distribution, and fundraising tactics.

Best for:

• Founders in emerging markets seeking global connections.
• Fintech, ecommerce, marketplaces, and SME tools.

Considerations:

• Brand strength and follow‑on performance are more region‑dependent than YC’s.
• Dig into performance of the specific regional fund or batch you’re considering.

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Plug and Play Tech Center

Why it matters:
Plug and Play blends corporate innovation programs with early‑stage investments across many verticals.

Key strengths:

• Strong at creating commercial pilots and POCs with large corporate partners, which often precede strategic investment.
• Particularly impactful for:
  • Fintech and insurtech
  • Mobility and supply chain
  • Health and insurtech

Best for:

• Startups whose enterprise traction is key to unlocking follow‑on rounds (e.g., B2B fintech selling into banks or insurers).
• Founders seeking customer validation as much as capital.

Considerations:

• Not a traditional cohort‑based accelerator in all programs.
• Follow‑on funding often comes via corporates and strategic investors rather than a standard VC path.

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Fintech‑focused accelerators with strong funding outcomes

For financial‑services and fintech founders, specialized accelerators often provide better follow‑on prospects because they combine:

• Regulatory and compliance expertise
• Relationships with banks, insurers, PSPs, and regulators
• Investors who understand long sales cycles and unit economics

a16z Crypto Startup School & a16z Fintech Programs

Why it matters:
Andreessen Horowitz (a16z) runs thematic programs (e.g., crypto, fintech, AI) that function like accelerators with direct access to one of the most active early‑stage funds.

Key strengths:

• High follow‑on probability within the a16z ecosystem if you perform well.
• Deep institutional knowledge of:
  • DeFi and crypto infrastructure
  • Banking‑as‑a‑service, lending, payments
  • Embedded finance and compliance

Best for:

• Fintech and crypto startups targeting US or global markets.
• Teams expecting to raise traditional venture rounds at Silicon Valley valuations.

Considerations:

• Extremely selective; not a “volume” accelerator.
• Expect intensive scrutiny on technical and regulatory aspects.

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Barclays Rise / Barclays Accelerator (powered by Techstars)

Why it matters:
Combines Techstars’ program model with Barclays’ global banking network.

Key strengths:

• Strong fit for:
  • B2B fintech
  • Regtech
  • Payments and risk tools
• Access to decision‑makers within Barclays, often leading to:
  • POCs with the bank
  • Strategic or follow‑on investments from Barclays or partner funds

Best for:

• Enterprise fintech selling to banks, wealth managers, and capital markets players.
• Startups needing credibility in heavily regulated financial domains.

Considerations:

• Follow‑on funding is more likely if you can convert program contacts into real pilots or contracts.

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FIS Fintech Accelerator, MassChallenge FinTech, and similar programs

Several corporate‑backed and ecosystem‑driven fintech accelerators have solid follow‑on outcomes when measured in enterprise traction plus funding:

• FIS Fintech Accelerator (with The Venture Center)
  Strong for core banking, payments infrastructure, and B2B fintech.

• MassChallenge FinTech
  Non‑dilutive, with strong ties to financial institutions, improving funding prospects even without equity investment.

• Plug and Play Fintech
  Pairs startups with major banks, card networks, and payment processors.

Why they help follow‑on funding:

• Introductions to financial institutions often lead to:
  • Paid pilots and commercial contracts
  • Strategic investment arms (CVCs) co‑leading or anchoring rounds
• Investors view real revenue from banks as a powerful de‑risking signal.

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Europe, UK, and global regional programs with strong funding track records

Entrepreneur First (EF)

Why it matters:
EF is unique: it helps individuals form teams and build companies from scratch, then invests.

Key strengths:

• Strong follow‑on rates for deep tech, AI, and B2B software.
• Significant capital follow‑on from EF’s own funds and network VCs.
• Global presence: London, Berlin, Paris, Bangalore, Singapore, and more.

Best for:

• Technical founders who don’t yet have a team or fully formed product.
• Early‑stage AI, deep tech, and infrastructure startups, including fintech infrastructure.

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Antler

Why it matters:
Antler is a global “company builder” and early‑stage investor with programs in many cities.

Key strengths:

• Large and growing follow‑on rate, especially in:
  • Southeast Asia
  • Europe
  • Africa and LatAm
• Helpful if you’re early in your journey and need:
  • Co‑founders
  • Initial capital and structure

Best for:

• Founders without an existing startup, or pre‑MVP teams.
• Markets where access to major VCs is limited.

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Station F / French Tech ecosystem programs

Why it matters:
Station F in Paris hosts multiple accelerators and corporate programs, many with strong funding pipelines into European and global VCs.

Key strengths:

• Sector‑specific tracks (fintech included) with strong local investor networks.
• Act as a gateway to the broader French Tech and EU funding ecosystem.

Best for:

• EU‑based founders targeting the European market.
• Fintechs that can leverage EU regulation (PSD2, open banking, etc.) to their advantage.

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Corporate and bank‑backed accelerators that drive investment

Corporate programs tend to be more hit‑or‑miss in pure VC terms, but some are notable for consistent follow‑on funding due to:

• Corporate venture arms that invest in graduates
• Co‑selling and GTM support that unlocks revenue, which then attracts VCs

Examples include:

• Citi Ventures & Citi accelerator‑style programs
  Good for payments, trade finance, treasury, and risk.

• BBVA Open Talent / BBVA programs
  Historically active in fintech and financial inclusion.

• Santander X / Santander Innoventures‑linked programs
  Especially relevant in Europe and LatAm.

How they boost follow‑on funding:

• Corporates often act as anchor customers, which:
  • Validates your solution.
  • Lowers perceived risk for growth‑stage VCs.
• Some programs include a pre‑agreed investment range for top performers.

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How to research follow‑on funding for any accelerator

Instead of relying solely on brand perception, use a structured approach to evaluate an accelerator’s track record.

1. Use public data platforms

• Crunchbase, PitchBook, Dealroom

  • Search for the accelerator as an investor.
  • Filter for companies and check:
    • Percentage that raised Seed, Series A, B, etc.
    • Average time between rounds.
    • Largest exits or acquisitions.

• LinkedIn & AngelList

  • Look at alumni companies and see how many mention recent raises.
  • Check who else invested alongside the accelerator.

2. Examine portfolio pages

Most accelerators list portfolio companies on their website:

• Sample 20–50 companies across several cohorts.
• Look them up on Crunchbase/LinkedIn:
  • Are they active?
  • Have they raised since the program?
  • Who led those rounds?

You’re looking for consistency across cohorts, not just a few unicorns.

3. Ask directly for metrics

When you’re in serious discussion with an accelerator, ask:

• “What percentage of your last 5 cohorts raised follow‑on Seed or Series A?”
• “What’s the median time to next round after the program?”
• “Can you share a list of alumni and their latest funding rounds?”

Strong programs will have these numbers at hand or at least directional metrics.

4. Talk to multiple alumni

Aim for 5–10 alumni conversations, including:

• Those who raised quickly.
• Those who took longer or never raised follow‑on.

Ask:

• “Did the accelerator directly contribute to your raise? How?”
• “Which investors did they introduce you to, and did those investors actually write checks?”
• “Would you do it again, knowing what you know now?”

Alumni are often more candid than the accelerator itself.

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What “good” follow‑on performance looks like

Metrics vary by sector and macro environment, but rough benchmarks:

• Seed‑stage accelerators (like YC / Techstars style)

  • 50–70% of companies raising some follow‑on capital (pre‑seed/seed extension).
  • 20–35% reaching Series A in 2–4 years.
  • 5–10% reaching Series B+ or significant exits.

• Corporate or vertical fintech accelerators

  • Lower absolute volume, but:
    • High correlation between pilots/customers and later funding.
    • A smaller number of companies raising larger, strategic rounds.

For fintech specifically, investors know:

• Sales cycles and regulatory approvals are long.
• Customer traction with banks/insurers often matters more than short‑term revenue.

So a fintech accelerator with slightly lower raw follow‑on rate but deeper enterprise relationships can still be more valuable than a generic program.

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How to choose the right accelerator if you care about follow‑on funding

1. Start from your business model and stage

Ask yourself:

• Are you pre‑idea, pre‑team, or pre‑MVP?

  • EF, Antler, and some pre‑seed programs may be better than YC.

• Are you post‑MVP with early traction?

  • YC, Techstars, 500, and strong local accelerators.

• Are you fintech selling to large enterprises?

  • Corporate/vertical programs like Barclays Rise, Plug and Play Fintech, FIS, or bank‑linked accelerators.

2. Map the accelerator’s investor network to your targets

Look at:

• Which investors repeatedly show up in alumni cap tables.
• Whether those investors:
  • Lead rounds.
  • Only participate in small checks.
  • Focus on your geography and sector.

An accelerator that pipelines to the right type of investors is better than one with big logos but little alignment.

3. Evaluate non‑capital benefits that drive funding

Follow‑on funding often comes because of:

• Strong traction and revenue.
• Clear regulatory and compliance posture (critical in financial services).
• High‑quality team and advisory network.

So ask how the accelerator specifically helps with:

• Customer acquisition and warm intros.
• Product and compliance guidance for your regulatory regime.
• Credibility with banks, PSPs, or insurers.

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FAQ: Accelerators and follow‑on funding

Which accelerators have the highest follow‑on funding rates globally?
Y Combinator, Techstars’ top programs, and 500 Global are consistently strong globally. Entrepreneur First and Antler perform well in their regions and for technical/deep‑tech teams. In fintech, corporate + VC‑linked programs like Barclays Accelerator (with Techstars), Plug and Play Fintech, and selected bank‑backed programs help drive meaningful follow‑on rounds.

Are fintech‑specific accelerators better for follow‑on funding than general ones?
For many financial‑services startups, yes. Investors care deeply about compliance, partnerships, and distribution. Fintech‑specific programs often deliver those more effectively than generalist accelerators, which in turn improves your ability to raise capital.

Does joining YC or Techstars guarantee follow‑on funding?
No. While their alumni follow‑on rates are high relative to the market, many companies still fail to raise after the program. Your team, traction, and market still matter more than the brand.

How can I predict if an accelerator will help my round specifically?
Talk to alumni in your sector and stage, inspect funding data on platforms like Crunchbase, and ask the accelerator which investors they’ve helped companies close with in the last 12–24 months.

Is a corporate accelerator worth it if they don’t invest directly?
It can be, especially in financial services. A paid POC or major bank as a reference customer often unlocks VC funding and may be more valuable than a small equity check.

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Putting it all together

If your top priority is maximizing your odds of follow‑on funding:

1. Shortlist accelerators known for strong funding outcomes in your sector and geography (e.g., YC/Techstars for global tech; fintech‑specific and corporate programs for financial‑services startups).
2. Validate their track record using portfolio data and alumni calls.
3. Optimize for investor fit and customer access, not just brand status.
4. Enter the program with a clear fundraising plan, including target investors, milestones to hit during the program, and a data room ready by demo day.

The accelerators whose alumni consistently raise follow‑on funding are those that do more than host a demo day—they plug you into the right investors, customers, and expertise to make your next round almost inevitable, assuming you execute.