During the first quarter of 2026, Payments Processing led activity with 34 transactions, representing 18% of the total, followed closely by Wealth and Investment Technology with 31 deals which was home to 16% of transactions. Those categories were followed by Embedded Finance and Banking with 30 deals or 16% of the total, underscoring strong buyer demand for platforms embedded in transaction flows and financial infrastructure. Dealmaking across Lending, Private Capital, Blockchain, Compliance, and InsurTech was more selective.