About Formance
Formance is a company based in Paris (France) founded in 2021 by Anne Sybille Pradelles and Clement Salaun. It operates as a SaaS (Software-as-a-Service) and API-as-a-Product. Formance has raised $24.1 million across 2 funding rounds from investors including Portage, PayPal Ventures and Y Combinator. Formance offers products and services including Formance Platform, Ledger, and SDKs. Formance operates in a competitive market with competitors including Zuora, Juspay, PPRO, Spreedly and ZOOZ, among others.
- Headquarter Paris, France
- Founders Anne Sybille Pradelles, Clement Salaun
- SectorsFinancial Services
- Email••••••••
- Website formance.com
- Social LinkedIn X
- Legal Name Formance, Inc.
- Total Equity Funding$24.1M (USD)
in 2 rounds
- Latest Funding Round$21M (USD), Series A
Dec 2024
- InvestorsPortage
& 5 more
Products & Services of Formance
Formance offers a comprehensive portfolio of products and services, including Formance Platform, Ledger, and SDKs.
Financial primitives are provided for bespoke product development.
Immutable ledger is offered for scalable asset tracking.
Compatible SDKs are provided for various programming languages.
Funding Insights of Formance
Formance has successfully raised a total of $24.1M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $21 million completed in December 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $24.1M
- Total Rounds 2
- Last Round Series A — $21M
- First Round $3.1M
(Jun 2022)
- Investors Count 6
All 2 funding rounds of Formance with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec 2024 | $21M | Series A | – | PayPal Ventures, Portage | |
| Jun 2022 | $3.1M | Seed | – | Hoxton Ventures, Frst Capital | – |
6 investors in total: 6 institutional.
Investors in Formance
Formance has secured backing from 6 investors, including venture fund investors. Prominent investors backing the company include Portage, PayPal Ventures and Y Combinator.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital fund investing in early-stage tech startups | – | paypal.vc | San Jose, United States | |
A global fintech and financial services investment platform is operated. | 2016 | portageinvest.com | Montreal, Canada | |
Early-stage startups are accelerated via funding and educational programs. | – | ycombinator.com | Mountain View, United States | |
VC and PE firm focused on seed and early stage tech companies | – | hoxtonventures.com | London, United Kingdom | |
Tech investment platform is operated to support European startups. | – | axc.vc | - | |
Early-stage startups across France are invested in by Frst Capital. | – | frst.vc | Paris, France |
Investor details for Formance
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
People of Formance
5 people are tracked at Formance (4 in leadership, 1 in team).
| Name | Role | Group |
|---|---|---|
Anne Sybille Pradelles | Co-Founder | Leadership |
Clement Salaun | Founder | Leadership |
Clément Salaün | Co-Founder & CEO | Leadership |
Maxence Maireaux | VP, Engineering | Leadership |
Brieuc Caillot | Interactive Software Engineer | Team |
Complete people profiles for Formance
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Timeline of Formance
3 dated milestones of Formance across 3 years, from founding to its latest funding, stage changes and deals.
- Founded Formance is founded.
- Funding First funding round of $3.1M.
- Funding Latest funding round, Series A, of $21.0M.
Competitors of Formance
Formance operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Zuora, Juspay, PPRO, Spreedly and ZOOZ, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| zuora.com | 2007 | Redwood, United States | $242.53M | 689 | Cloud-based invoice and subscription management solutions for businesses | |
| juspay.io | 2012 | Bengaluru, India | $88.01M | 1,061 | Payment orchestration, recurring payments, and checkout flow solutions are provided. | |
| ppro.com | 2006 | London, United Kingdom | $462.88M | 117 | Merchant acquiring and orchestration solutions are provided for payments. | |
| spreedly.com | 2007 | Durham, United States | $82.82M | 127 | Payment orchestration is facilitated for international transactions and analytics. | |
| zooz.com | 2010 | Tel Aviv, Israel | $39.5M | – | Cloud-based payment routing solutions are provided for business merchants. | |
| finmo.net | 2021 | Singapore | $27M | – | Payment orchestration solutions are provided for business and consumer transactions. | |
| apexx.global | 2015 | London, United Kingdom | $47.36M | 21 | Cross-border payment gateway solutions are provided for businesses. | |
| aevi.com | 2015 | Paderborn, Germany | $33.64M | 17 | White label payment platform is distributed to merchants and acquirers. | |
| inai.io | 2021 | London, United Kingdom | $4.13M | 28 | Payment gateway solutions for businesses |
Detailed competitors of Formance
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of Formance
The website of Formance (formance.com) receives about 15.1K visits a month.
- Monthly visits15.1K
▼ 9.8% vs previous month
Websites whose visitors overlap most with Formance. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| google.com | 100% | 85.8B | #1 | View details | |
usine-digitale.fr | usine-digitale.fr | 61% | – | #203,686 | – |
Similar companies to Formance
10 companies that operate in the same segment as Formance (Payments & Remittance Platforms), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Digital payments, financial services, and e-commerce platforms are provided. | 2000 | Noida, Uttar Pradesh, India | USD 4.14 B | – | – | |
Payment, financial, investment, and lending services are provided digitally. | 2012 | Bengaluru, Karnataka, India | USD 1.71 B | – | – | |
Payment processing and card issuance solutions are provided for businesses. | 2009 | San Francisco, California, United States | USD 9.81 B | – | – | |
Cloud-based accounts payable and receivable software for businesses | 2006 | Palo Alto, California, United States | USD 325.6 M | USD 1.65 B | 2,360 | |
Payment and business banking solutions are provided for enterprises. | 2014 | Bengaluru, Karnataka, India | USD 742 M | USD 302.19 M | 2,641 | |
Spend management and accounts payable solutions are delivered to businesses. | 2019 | New York, New York, United States | USD 3.21 B | – | – | |
Payment acceptance and processing solutions provider for businesses | 2018 | Gurugram, Haryana, India | USD 604.02 M | USD 179.52 M | 709 | |
Business spends, payments, and rewards are streamlined by automated workflows. | 2011 | Hyderabad, Telangana, India | USD 13.75 M | USD 149.43 M | 431 | |
Online payment processing and credit solutions are provided for businesses. | 2002 | Amsterdam, Netherlands | USD 35.15 M | USD 5.47 B | 1,200 | |
SaaS-driven credit card and spend management solutions platform for businesses | 2017 | Draper, Utah, United States | USD 1.16 B | – | 1 |
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Frequently Asked Questions about Formance
Formance was founded in 2021 and raised its 1st funding round 1 year after it was founded.
Formance is headquartered in Paris, France.
Formance is a funded company, having raised a total of $24.1M across 2 funding rounds to date. The company's 1st funding round was a Seed of $3.1M, raised on Jun 2022.
Financial infrastructure is developed by Formance to support developers and financial teams. Solutions are offered for booking, reconciliation, and money flow transparency. The platform is built with a unified data layer, encapsulating financial transaction logic. Sectors such as property management, healthcare, and accounting are served through customizable financial products. Compliance and auditability are ensured alongside engineering velocity.
Formance offers Formance Platform, Ledger, and SDKs.
Formance has 6 investors. Key investors include Portage, PayPal Ventures, Y Combinator, Hoxton Ventures, and Axeleo Capital.
Formance operates through Formance, Inc..