Formance, Inc.
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Formance, Inc. - overview
Established
2021
Location
Paris, -, France
Primary Industry
Software
About
Based in France, and founded in 2021, Formance operates as a financial software company. The company was founded by its COO Anne-Sybille Pradelles, and Clément Salaün. In December 2024, Formance, Inc. raised USD 18.
5 million in series A funding co-led by PayPal Ventures and Portage Ventures, with participation from Axeleo, Y Combinator, and Hoxton Ventures. Formance provides an open-source solution for building and managing cash flows. As of 2022, the company has developed four technological API solutions that enable tracking cash flows between pay-ins and pay-outs across numerous organizations. The software is made up of four main components: a low-code basis; customizable templates; a transaction ledger; and real-time transaction tracking tools.
The company plans to use the funds raised in December 2024 to expand its operations across the US and Europe and accelerate the development of its Open-Source Ledger into a comprehensive platform for building and managing financial features.
Current Investors
Y Combinator, Frst Capital, Hoxton Ventures
Primary Industry
Software
Sub Industries
Financial Services, Accounting/Finance Software
Website
www.formance.com
Verticals
Cloud Computing, FinTech
Company Stage
Series A
Total Amount Raised
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