Formance Analysis
What is Formance?
Formance offers open-source financial infrastructure for businesses to create custom fund flows and integrate with financial partners, enhancing their operational scalability.
Employees
14
Founded
2021
Revenue
<$5M
Business Model
Transaction-based fees for customizable payment systems and scalable financial solutions.
Product Features & Capabilities
- Open Source Financial Core, Modular Extensible Financial Backend, Extensive Connectivity, Enterprise-Grade Security, Programmable Financial Infrastructure
Pricing
- Community plan: Free to try out Formance.
- Enterprise plan: Contact for pricing to deploy in production.
- Cloud Native Hosting options:
- Formance Cloud: Managed hosting by Formance.
- CloudPrem I: Hybrid deployment with managed control plane.
- CloudPrem II: Fully self-hosted deployment.
Who are the founders of Formance
AP
Anne-Sybille Pradelles
Co-Founder, CEO
CS
Clément Salaün
Co-Founder, CTO
Market Focus
Formance primarily focuses on the financial technology (fintech) industry, providing open-source financial infrastructure for businesses to create customized financial flows and connect with various financial partners.
Investors
- PayPal Ventures
- Portage Ventures
- Y Combinator
- Hoxton Ventures
- Axeleo Capital
Competitors Overview
The main competitors of Formance in the financial infrastructure market include:
- HyperSwitch: HyperSwitch offers a payment infrastructure that allows businesses to integrate various payment methods seamlessly. Its notable advantage is its flexibility and ability to support multiple payment c
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