The gubernatorial campaign of Republican Ryan Fazio said Monday its fundraising has crossed the $250,000 threshold necessary to qualify for public financing, matching his rival for the GOP nomination, Erin Stewart.

Both have set records in their pursuit of public financing under the revised Citizens’ Election Program, which will provide qualifying major party candidates about $3.2 million for a primary and $15.4 million to the eventual nominee.

Stewart, whose application was approved last week after about 11 months of fundraising, qualified earlier than other participants in the history of the voluntary program; Fazio was the quickest to reach the threshold, raising $272,069 in less than five months.

“The continued record-breaking momentum behind our campaign is deeply gratifying and energizing,” Fazio said in a statement.

Stewart, 38, the former mayor of New Britain, and Fazio, 35, a state senator from Greenwich, are vying to become the youngest nominee for governor since John G. Rowland won the GOP nomination at age 33 in 1990.

Gov. Ned Lamont, 72, a Democrat seeking a third term, is self-funding his campaign, as he did in 2018 and 2022. Each time, his Republican opponent was Bob Stefanowski, also a self-funder.

Lamont spent $25.7 million on the 2022 race; Stefanowski spent $14.5 million. The public financing grants that year were $1.6 million for a primary and $7.7 million for the general election.

Revisions made after the 2022 election gave Stewart and Fazio a strong incentive to qualify in the first month of the election year: For the first time, a qualifying major-party candidate can get an early convention grant, essentially a partial advance from the $3.2 million primary award.

After a review of Stewart’s qualifying contributions, the State Elections Enforcement Commission voted unanimously last week to award her an $806,875 convention grant.

In previous cycles, no grant was available until a candidate had qualified for a primary, which cannot occur prior to the parties’ nominating conventions in May.

Reaching the $250,000 threshold will not result in Fazio immediately getting his convention grant. His finances will be reviewed for compliance with the rules.

Each qualifying contribution for a gubernatorial campaign must be at least $5 and no more than $250. Ninety percent of the contributions must come from in-state donors, and none can come from state contractors. The commission checks to ensure there is an individual donor for each contribution.

Campaign finance reports for the quarter ending Dec. 31 are due Monday. State Rep. Josh Elliott, D-Hamden, who is making a long-shot run opposing Lamont for the nomination, has struggled in his fundraising.

Betsy McCaughey, a Newsmax host and former lieutenant governor of New York, has told Republicans she is likely to run for the GOP nomination.

Entering the race with 49 days left in the previous quarter, Fazio raised $157,233 by Sept. 30. He reported raising another $114,300 in the final reporting period of the year.

Fazio said the fast fundraising was a measure of support.

“Connecticut voters are ready for positive change,” he said. “They are ready for leadership that will finally cut our sky-high electric rates and taxes, support our law enforcement, defend local control, and create opportunity for every family. Our campaign is based on that substantive change, and that’s exactly the reason for our momentum.”