Formance valuation, funding and investors
Formance works in multi-currency ledger integration, based in Paris, France. Founded in 2021, it has about 55 employees.
- Last round
- Series A · $21.0M · Jan 2025
- Valuation at last round
- $101M · implied
- Headcount
- 55 · growing
- Grade
- B
- Founded
- 2021
Formance valuation today
VCMC values Formance at $212M today, with a range of $93.8M to $300M and a grade of B. The valuation starts from its last funding round, a Series A round in Jan 2025.
Valuation by date (73 rows)
Each point is what the model would have shown on that date, using only what was known then; before its first round, a company is valued as a startup because it later raised.
| Date | Valuation | Range | Predicted in 1 yr | Phase | Headcount | Trend | Grade | Winding-down probability |
|---|---|---|---|---|---|---|---|---|
| 1 Jan 2021 | $10.5M | $3.83M – $28.9M | $11.7M (+11%) | before first round | – | unknown | D | 0% |
| 1 Feb 2021 | $10.6M | $3.86M – $29.1M | $11.8M (+11%) | before first round | – | unknown | D | 0% |
| 1 Mar 2021 | $10.7M | $3.89M – $29.4M | $11.9M (+11%) | before first round | – | unknown | D | 0% |
| 1 Apr 2021 | $10.8M | $3.93M – $29.6M | $12.0M (+11%) | before first round | – | unknown | D | 0% |
| 1 May 2021 | $10.9M | $3.96M – $29.9M | $12.0M (+11%) | before first round | – | unknown | D | 0% |
| 1 Jun 2021 | $11.0M | $4.00M – $30.2M | $12.1M (+10%) | before first round | – | unknown | D | 0% |
| 1 Jul 2021 | $11.1M | $4.03M – $30.4M | $12.2M (+10%) | before first round | – | unknown | D | 0% |
| 1 Aug 2021 | $11.2M | $4.07M – $30.7M | $12.3M (+10%) | before first round | – | unknown | D | 0% |
| 1 Sep 2021 | $11.3M | $4.11M – $31.0M | $12.4M (+10%) | before first round | – | unknown | D | 0% |
| 1 Oct 2021 | $11.4M | $4.15M – $31.3M | $12.5M (+10%) | before first round | – | unknown | D | 0% |
| 1 Nov 2021 | $11.5M | $4.18M – $31.6M | $12.6M (+10%) | before first round | – | unknown | D | 0% |
| 1 Dec 2021 | $11.6M | $4.22M – $31.8M | $12.7M (+9%) | before first round | – | unknown | D | 0% |
| 1 Jan 2022 | $11.7M | $4.26M – $32.1M | $12.8M (+9%) | before first round | – | unknown | D | 0% |
| 1 Feb 2022 | $11.8M | $4.29M – $32.4M | $12.9M (+9%) | before first round | – | unknown | D | 0% |
| 1 Mar 2022 | $11.9M | $4.32M – $32.6M | $13.0M (+9%) | before first round | – | unknown | D | 0% |
| 1 Apr 2022 | $12.0M | $4.35M – $32.8M | $13.1M (+9%) | before first round | – | unknown | D | 0% |
| 1 May 2022 | $12.0M | $4.39M – $33.1M | $13.2M (+9%) | before first round | – | unknown | D | 0% |
| 1 Jun 2022 | $12.1M | $4.42M – $33.3M | $13.3M (+9%) | before first round | – | unknown | D | 0% |
| 21 Jun 2022 | $20.4M | $13.3M – $61.8M | $40.6M (+100%) | after a round | – | unknown | C | 0% |
| 1 Jul 2022 | $20.7M | $13.3M – $61.8M | $40.6M (+96%) | after a round | – | unknown | C | 0% |
| 1 Aug 2022 | $22.0M | $13.3M – $61.8M | $40.6M (+85%) | after a round | – | unknown | C | 0% |
| 1 Sep 2022 | $23.3M | $13.3M – $61.8M | $40.6M (+74%) | after a round | – | unknown | C | 0% |
| 1 Oct 2022 | $24.7M | $13.3M – $61.8M | $40.6M (+64%) | after a round | – | unknown | C | 0% |
| 1 Nov 2022 | $26.2M | $13.3M – $61.8M | $40.6M (+55%) | after a round | – | unknown | C | 0% |
| 1 Dec 2022 | $27.7M | $13.3M – $61.8M | $40.6M (+47%) | after a round | – | unknown | C | 0% |
| 1 Jan 2023 | $29.4M | $13.3M – $61.8M | $40.6M (+38%) | after a round | 21 | unknown | C | 0% |
| 1 Feb 2023 | $31.2M | $13.3M – $61.8M | $40.6M (+30%) | after a round | 21 | unknown | C | 0% |
| 1 Mar 2023 | $32.9M | $13.3M – $61.8M | $40.6M (+24%) | after a round | 21 | unknown | C | 0% |
| 1 Apr 2023 | $34.9M | $13.3M – $61.8M | $40.6M (+16%) | after a round | 21 | unknown | C | 0% |
| 1 May 2023 | $36.9M | $13.3M – $61.8M | $40.6M (+10%) | after a round | 21 | flat | C | 0% |
| 1 Jun 2023 | $39.2M | $13.3M – $61.8M | $40.6M (+4%) | after a round | 21 | flat | C | 0% |
| 1 Jul 2023 | $40.6M | $13.1M – $61.8M | $40.6M (0%) | after a round | 21 | flat | C | 0% |
| 1 Aug 2023 | $40.6M | $12.5M – $61.8M | $40.6M (0%) | after a round | 21 | flat | C | 0% |
| 1 Sep 2023 | $40.6M | $11.8M – $61.8M | $40.6M (0%) | after a round | 21 | flat | C | 0% |
| 1 Oct 2023 | $40.6M | $12.1M – $61.8M | $40.6M (0%) | after a round | 25 | up | C | 0% |
| 1 Nov 2023 | $40.6M | $11.7M – $61.8M | $40.6M (0%) | after a round | 25 | up | C | 0% |
| 1 Dec 2023 | $40.6M | $11.4M – $61.8M | $40.6M (0%) | after a round | 25 | up | C | 0% |
| 1 Jan 2024 | $40.6M | $11.0M – $61.8M | $40.6M (0%) | after a round | 25 | up | C | 0% |
| 1 Feb 2024 | $40.6M | $10.7M – $61.8M | $40.6M (0%) | after a round | 26 | up | C | 0% |
| 1 Mar 2024 | $40.6M | $10.4M – $61.8M | $40.6M (0%) | after a round | 25 | up | C | 0% |
| 1 Apr 2024 | $40.6M | $10.1M – $61.8M | $40.6M (0%) | after a round | 25 | up | C | 0% |
| 1 May 2024 | $40.6M | $9.81M – $61.8M | $40.6M (0%) | after a round | 25 | up | C | 0% |
| 1 Jun 2024 | $40.6M | $9.52M – $61.8M | $40.6M (0%) | after a round | 25 | up | C | 0% |
| 1 Jul 2024 | $40.6M | $7.81M – $61.8M | $40.6M (0%) | after a round | 27 | up | D | 0% |
| 1 Aug 2024 | $40.6M | $7.47M – $61.8M | $40.4M (0%) | after a round | 25 | up | D | 0% |
| 1 Sep 2024 | $40.6M | $7.15M – $61.8M | $40.3M (-1%) | after a round | 25 | up | D | 0% |
| 1 Oct 2024 | $40.6M | $6.85M – $61.8M | $40.2M (-1%) | after a round | 25 | up | D | 0% |
| 1 Nov 2024 | $40.6M | $6.55M – $61.8M | $40.2M (-1%) | after a round | 27 | up | D | 0% |
| 1 Dec 2024 | $40.6M | $5.59M – $61.8M | $39.2M (-4%) | after a round | 27 | flat | D | 0% |
| 1 Jan 2025 | $40.6M | $5.31M – $61.8M | $38.9M (-4%) | after a round | 27 | flat | D | 0% |
| 30 Jan 2025 | $101M | $70.8M – $257M | $181M (+80%) | after a round | 27 | flat | C | 0% |
| 1 Feb 2025 | $101M | $70.8M – $257M | $181M (+79%) | after a round | 27 | flat | C | 0% |
| 1 Mar 2025 | $106M | $70.8M – $257M | $181M (+71%) | after a round | 27 | flat | C | 0% |
| 1 Apr 2025 | $111M | $70.8M – $257M | $181M (+63%) | after a round | 27 | flat | C | 0% |
| 1 May 2025 | $117M | $70.8M – $257M | $181M (+55%) | after a round | 27 | flat | C | 0% |
| 1 Jun 2025 | $123M | $70.8M – $257M | $181M (+48%) | after a round | 27 | flat | C | 0% |
| 1 Jul 2025 | $133M | $76.8M – $278M | $196M (+47%) | after a round | 39 | growing | C | 0% |
| 1 Aug 2025 | $142M | $78.5M – $284M | $200M (+41%) | after a round | 43 | growing | C | 0% |
| 1 Sep 2025 | $151M | $78.5M – $284M | $200M (+33%) | after a round | 43 | growing | C | 0% |
| 1 Oct 2025 | $156M | $75.9M – $275M | $194M (+24%) | after a round | 37 | growing | C | 0% |
| 1 Nov 2025 | $165M | $75.9M – $275M | $194M (+17%) | after a round | 37 | growing | C | 0% |
| 1 Dec 2025 | $174M | $75.9M – $275M | $194M (+11%) | after a round | 37 | growing | C | 0% |
| 1 Jan 2026 | $184M | $75.9M – $275M | $194M (+5%) | after a round | 37 | growing | C | 0% |
| 1 Feb 2026 | $194M | $76.0M – $275M | $194M (0%) | after a round | 37 | growing | C | 0% |
| 1 Mar 2026 | $194M | $77.0M – $275M | $194M (0%) | after a round | 37 | growing | C | 0% |
| 1 Apr 2026 | $194M | $78.1M – $275M | $194M (0%) | after a round | 37 | growing | C | 0% |
| 1 May 2026 | $210M | $85.7M – $298M | $210M (0%) | after a round | 53 | growing | C | 0% |
| 1 Jun 2026 | $208M | $78.5M – $295M | $208M (0%) | after a round | 51 | up | C | 0% |
| 1 Jul 2026 | $208M | $77.8M – $295M | $208M (0%) | after a round | 51 | up | C | 0% |
| 1 Aug 2026 | $208M | $77.1M – $295M | $208M (0%) | after a round | 51 | up | C | 0% |
| 1 Sep 2026 | $208M | $76.3M – $295M | $208M (0%) | after a round | 51 | up | C | 0% |
| 1 Oct 2026 | $212M | $92.8M – $300M | $212M (0%) | after a round | 55 | growing | B | 0% |
| 24 Oct 2026 | $212M | $93.8M – $300M | $212M (0%) | after a round | 55 | growing | B | 0% |
Key facts about Formance
- Founded
- 2021
- Headquarters
- Paris, France
- Employees
- about 55 +49% in a year
- Total raised
- $24M
- Funding rounds
- 2
- Last round
- Series A Jan 2025
Formance was founded in 2021 by Anne-Sybille Pradelles and Clément Salaün.
Formance funding history
Formance has 2 funding rounds on record, from Jun 2022 to Jan 2025, $24M in total. None disclosed a valuation.
Series A 29 Jan 2025
Led by PayPal Ventures, Portage Ventures; with Y Combinator, Hoxton Ventures, Axeleo Capital.
Sources: formance.com, pymnts.com, fintechfutures.com and 2 more
$21M
Pre-Seed 20 Jun 2022
Led by Hoxton Ventures, Frst; with Y Combinator.
Sources: emeastartups.com, pymnts.com
$3.1M
Formance investors
6 investors have backed Formance; Hoxton Ventures, Frst and PayPal Ventures and 1 more led at least one round.
- Hoxton Ventures lead, 2 rounds
- PayPal Ventures lead
- Y Combinator 2 rounds
- Axeleo Capital
What Formance does
Formance works in tech companies, with 9 recorded offerings and customers in financial services.
Formance, Inc. is a French technology company engaged in providing a programmable core ledger that unifies fiat and digital assets, enabling developers, product, and finance teams to build financial applications. The company offers a platform featuring a multi-currency ledger, payment connectors, and automatic reconciliation, designed to bridge digital assets and fiat currency. Formance serves enterprise companies, fintech, and financial services sectors globally, and is certified for security and data protection.
Description from Veridion's company data.
Products and services
- Multi-Currency Ledger Integration
- Digital Asset and Fiat Currency Unification
- Financial Application Development Enablement
- Payment Connector Integration
- Financial Data Reconciliation Automation
- Open-Source Financial Infrastructure Solutions
- Cloud-Based Financial Application Deployment
- Financial Data Security Solutions
- Financial Application Scalability Solutions
Markets
- Financial Services
Technology
- Programmable Core Ledger for Digital Asset Unification
- Multi-Currency Ledger for Financial Application Integration
- Automatic Reconciliation for Financial Data Consistency
Certifications
- SOC 2 Type II
- ISO 27001
- DORA certified
Business model
- Business-to-Business
- Software-as-a-Service
- Enterprise
Industry codes (NAICS)
- 513210 Software Publishers 100% match
Questions about Formance
What is Formance worth?
Valuation $212M (range $93.8M to $300M), as of 24 Oct 2026.
Has Formance raised money?
Formance has 2 funding rounds on record, from Jun 2022 to Jan 2025, $24M in total. None disclosed a valuation.
Who has invested in Formance?
Hoxton Ventures, Frst, PayPal Ventures, Portage Ventures, Y Combinator and Axeleo Capital. Lead investors include Hoxton Ventures, Frst, PayPal Ventures and Portage Ventures.
How many people work at Formance?
About 55, up 49% over the last year. Headcount grew from 21 in Jan 2023 to 55 in Sep 2026.
What does Formance do?
Formance works in tech companies, with 9 recorded offerings and customers in financial services. Its main offerings are multi-currency ledger integration, digital asset and fiat currency unification and financial application development enablement.
When was Formance founded, and where is it based?
Formance was founded in 2021 and is based in Paris, France. It has about 55 employees, up 49% over the last year.