Formance started with an open-source, programmable financial ledger and has expanded into a modular fintech infrastructure platform. It currently offers five products including the ledger, a connectivity API, payment orchestration, reconciliation, and a mass-payout product in development. The company positions its platform as an AWS-like stack for financial operations, aiming to reduce integration costs for customers. Formance does not process payments or hold customer funds; it remains an independent middleware provider. The startup reports roughly 20 customers (including Booksy, Doctolib, Liberis and Shares), with two U.S. customers representing about 40% of revenue. With the new funding it plans product expansion and to grow headcount from 20 to 50 by the end of 2025. Formance develops a low-code, open-source solution for modeling, operating and tracking payment flows and money movements on a system-of-record/ledger. The product targets marketplaces, platforms and fintechs that need to break down and track complex pay-ins and payouts. Its platform includes use-case templates that the company says let online businesses model payment flows in hours. FORMANCE is currently used in Europe and the U.S. The company plans to use the new funding for product development and to expand the platform within Europe. FORMANCE was founded in 2021 by Clément Salaün and Anne-Sybille Pradelles.

Total raised

$24M

Funding rounds

2

Latest round

Series A

Latest activity

Jan 2025