Embedded-finance provider tracked in the Embedded Finance Index — disclosed by 11 companies across 1 category.
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Formance began in 2021 as an open-source, programmable double-entry ledger aimed at fintech engineers frustrated with rebuilding money-movement cores in-house. In 2024 it expanded from a single ledger product into a broader platform (Connectivity, Reconciliation, Flows), positioning itself as 'the AWS for fintech infrastructure.' The Series A in January 2025 cemented the strategy: sell the ledger + orchestration layer to neobanks, card issuers, lenders, marketplaces, and crypto issuers who want to own their source of truth rather than rent it from a BaaS provider.
Other Ledger providers in the index, by the number of companies that disclose them. A count of public disclosures, not a ranking of the products.
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<img src="https://www.embeddedfinanceindex.com/api/badge/formance/install" width="1" height="1" alt="" style="display:none">11 companies disclose Formance in their stack in the Embedded Finance Index 2026, including Getmomo, Doctolib, Neon Switzerland, Payflip, Btech, Moneycorp, Liberis, Stables, Shares, Booksy and 1 other.
Formance is an embedded-finance provider in Ledger. It ranks #3 of 24 Ledger providers by disclosed buyers.
The most-disclosed Ledger alternatives to Formance are Modern Treasury (35 buyers), Mambu (12 buyers), Layer (7 buyers), Temenos (7 buyers), Thought Machine (7 buyers) and Finxact (5 buyers).
Formance was founded by Clément Salaün and Anne-Sybille Pradelles and is founded in 2021, headquartered in Paris, France (offices in Paris, London, New York).
Formance has raised ~$24M+ in total.
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