Formance

Formance is a financial technology startup founded in 2021 and based in France. The company's slogan, "Open Source Financial Core," encapsulates its mission to enable platforms and fintech companies to build modern financial applications. Formance's offerings cover a wide array of financial services, including payments, banking, lending, investing, and insurance, with a focus on complex fund flows.

The startup distinguishes itself by providing an agnostic infrastructure that allows clients to build and operate sophisticated fund flows with their chosen financial service providers. Formance's open-source and modular components promise flexibility, ownership, and a shorter time-to-market for its users.

Formance has structured its platform around four key services: Ledger, Connectivity, Flows, and Reconciliation. These services are designed to integrate seamlessly with each other, offering a scalable and extensible financial core system.

Formance recently secured a $6.58M Venture Round investment on 27 December 2023, a significant milestone for the company as it continues to develop and expand its presence in the financial services, IT, and payments industries.