Formance
Formance is a company based in France. Builders in Fintech has recorded 2 equity rounds for Formance, most recently a series a round of $21M on 29 January 2025.
Added ·
- $21M + €2.9M
- Series A · $21M · 29 January 2025 · led by PayPal Ventures, Portage Ventures
Timeline
Series A · $21M · PayPal Ventures (lead), Portage Ventures (lead), Axeleo Capital, Hoxton Ventures, Y Combinator
Pre-seed · €2.9M · Hoxton Ventures (lead), Frst, Y Combinator
All funding rounds in the database
Product
Programmable ledger and money movement infrastructure
Payments
Formance is open-source infrastructure for companies that move money. Its programmable ledger records every flow of funds, and connectors link to payment providers and banks so teams can orchestrate payments, treasury and reconciliation in one system, modelling complex flows in its own scripting language.
Agent access
Description from the company website
Agent-Ready 3/5
- Discoverable — Can an agent find and read it?Found
- Documented — Can it understand the API without a login?Not found on 3 November 2026
- Testable — Can it try the API without a sales call?Found
- Connectable — Can it connect directly (MCP)?Not found on 3 November 2026
- Trusted — Can it see who runs it securely?Found
Not in our registers
Standard v0.1.1 · checked 3 November 2026
Description from the company website · Source
Mentioned on the podcast
Sevan invests in seed startups such as Formance, in small early-stage funds such as ReRail, and in pre-IPO secondaries including OpenAI, Anthropic, SpaceX and Anduril.
Formance builds open-source financial infrastructure, starting with a ledger for complex money movements; it was in Y Combinator's Summer 2021 batch.
Formance was started in April 2021 by Clément as Numary, and he was accepted into Y Combinator as a solo founder.
Formance's ledger is under the MIT licence, can be self-hosted, and Formance stays a pure software provider rather than a regulated one.
Formance's sales cycles run from about three months up to twelve, thanks to a product-led, open-source motion.
Formance raised a seed round of about 4 million at the end of 2021.
In 2024 Formance multiplied its revenue by ten in 11 months and passed 1 million in ARR in October.
Formance raised a 21 million Series A from PayPal Ventures and Portage at the end of 2024, in a process of about two months.
A product priced at 100 in Europe sells for 200–300 in the US and 70–80 in Asia and the Middle East; over 40% of Formance's ARR comes from North America.
Anne-Sybille is moving to New York, and Formance plans to hire more than 20 people by the end of the year.