# Formance **Source:** https://geo.sig.ai/brands/formance **Vertical:** Finance **Subcategory:** Accounting Software **Tier:** Emerging **Website:** formance.com **Last Updated:** 2026-04-14 ## Summary Paris open-source fintech infrastructure with programmable ledger and payment orchestration at 10x revenue growth; YC $21M PayPal Ventures/Portage Series A serving Doctolib and Liberis competing with Modern Treasury for fintech ledger-as-a-service. ## Company Overview Formance is a Paris, France-based open-source financial infrastructure company — backed by Y Combinator with $21 million raised in a Series A in January 2025 co-led by PayPal Ventures and Portage Ventures after 10x revenue growth, with prior investment from Hoxton Ventures and Axeleo Capital — providing fintech companies, vertical SaaS platforms, and financial institutions with programmable open-source ledger infrastructure (Formance Ledger), payment orchestration (Formance Payments), and transaction reconciliation automation, positioning as the "AWS for fintech infrastructure" with a developer-friendly platform that removes the need to build custom financial data management systems from scratch. Founded in 2021 and serving customers including Doctolib, Liberis, Booksy, and Btech, Formance is growing from 20 to 50 employees by end of 2025 and opening a New York office. Formance's open-source ledger is the platform's foundational component: financial applications (wallets, lending platforms, payment marketplaces, loyalty programs) need a double-entry accounting ledger that records every financial transaction with the debit/credit integrity, auditability, and high-throughput write performance that database tables built for operational data cannot provide reliably at scale. Formance Ledger (Apache 2.0 licensed, self-hostable) provides the double-entry bookkeeping engine with API-level transaction creation, balance inquiry, and audit trail access — enabling fintechs to build wallet balances, account statements, and real-time treasury management without building custom ledger infrastructure. The payment orchestration layer (Formance Payments) connects to PSPs (Stripe, PayPal, Adyen, Wise) and routes payment flows with retry logic, reconciliation matching, and multi-currency handling. In 2025, Formance competes in the fintech infrastructure, ledger-as-a-service, and payment orchestration market with Ledge (accounting automation, $10M raised), Modern Treasury (payment operations, $82M raised), and Moov (payment infrastructure, $77M raised) for fintech engineering team infrastructure adoption. The open-source model (self-hostable Formance Ledger available on GitHub) drives developer mindshare and adoption by regulated financial institutions that can't send financial data to third-party SaaS. PayPal Ventures' co-lead reflects PayPal's strategic interest in the financial infrastructure layer that powers next-generation fintech products. Portage Ventures' co-lead reflects the fintech-focused VC's conviction in ledger infrastructure as critical fintech plumbing. The 2025 strategy focuses on the Series A expansion from 20 to 50 employees for product and go-to-market, the New York office opening for US enterprise financial services customers, and building the reconciliation automation layer that connects ledger transactions with bank statement settlement. ## Frequently Asked Questions ### What is Formance? Formance is a Paris-based financial infrastructure company founded in 2021 that provides open-source infrastructure for the financial internet. The company positions itself as 'AWS for fintech infrastructure,' offering developers tools to build and manage financial operations. ### What products and services does Formance offer? Formance provides a programmable ledger, transactional database, financial flow orchestration, reconciliation automation, and an open-source financial platform. The company also offers payment infrastructure, transaction visibility tools, financial partner integration capabilities, and developer tools. ### Who are Formance's target customers? Formance serves vertical SaaS platforms, fintechs, and financial institutions globally. Current customers include Doctolib, Liberis, Booksy, and Btech. ### When was Formance founded and by whom? Formance was founded in 2021 by Clément Salaün (former payments lead at Selency) and Anne-Sybille Pradelles (ex-COO of cybersecurity startup Alsid). The company participated in Y Combinator's S21 batch. ### Where is Formance located? Formance is headquartered in Paris, France. The company is opening a new office in New York as part of its expansion plans. ### What is Formance's latest funding round? Formance raised a $21M Series A in January 2025, co-led by PayPal Ventures and Portage Ventures. Participating investors included Y Combinator, Hoxton Ventures, and Axeleo Capital. ### What recent growth has Formance achieved? Formance experienced 10x revenue growth over the past 12 months leading up to its Series A funding in January 2025. The company currently employs 20 people and plans to reach 50 employees by the end of 2025. ### What is Formance's technology approach? Formance uses an open-source approach to financial infrastructure, providing developers with programmable tools for building financial operations. The platform focuses on transaction visibility, orchestration, and automation of financial flows. ### How can I get started with Formance? Based on the provided information, Formance offers an open-source platform and developer tools for building financial infrastructure. Specific contact or onboarding details are not included in the available information. ### What are Formance's recent developments? In January 2025, Formance announced a $21M Series A funding round and plans to open a New York office. The company is scaling from 20 to 50 employees by the end of 2025 following 10x revenue growth. ## Tags b2b, saas, fintech, api-first, infrastructure, scaleup --- *Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*