I’m happy to officially announce today our $21M Series A funding round, co-led by PayPal Ventures and Portage Ventures.
As financial services continue permeating the internet at an accelerating pace, the need for open-source primitives and an agnostic infrastructure layer is now more important than ever. Money still needs a better programmability model, and we’re excited to be delivering on that future with best-in-class partners alongside us for the years to come, with this round acting as a testament to our achievements and vision for the future.
With leading companies such as Doctolib, Liberis, Booksy, and B.TECH now leveraging Formance as a core financial infrastructure, we hope to demonstrate what is becoming possible in the realm of building sophisticated money-enabled products and inspire software companies operating at scale to be creative while having the confidence of being backed at all times by a rock-solid foundation.
We’ve been architecting Formance for the long game since day one—and with the support of this round, we’ll keep solving the hardest problems in financial infrastructure (ranging from core ledgering, reconciliation, operations, and connectivity to the metal and a wide network of financial institutions).
I also want to leverage this post to give a proper shout-out to our investors who shared our convictions and joined the Formance journey: Ashish Aggarwal, Hélène FALCHIER, Victoire de Lavigne, Dalton Caldwell, Aaron Epstein, Rob Kniaz, Payton Dobbs, Mathieu Viallard. To the incredible Formance team delivering the impossible on a daily basis. To our business angels and advisors, with a special mention to Pierre Y. and Réna Kakon, who have been our first and unwavering cheerleaders since our inception.
PS: We’re hiring software engineers yearning to do their best work by solving deep, fundamental problems and who are not afraid of writing mission-critical software. Hit me up anytime!
