Formance raises $21M to build the AWS for fintech infrastructure

Formance raises $21M to build the AWS for fintech infrastructure

If you talk to a fintech entrepreneur about their business, chances are they’ll end up talking about ledger issues at some point. A ledger is a record of

French startup Formance, which offers an open source, programmable financial ledger and other services, raised a $21M Series A co-led by PayPal and Portage

Romain Dillet / TechCrunch: French startup Formance, which offers an open source, programmable financial ledger and other services, raised a $21M Series A co-led by PayPal and Portage  —  If you talk to a fintech entrepreneur about their business, chances are they'll end up talking about ledger issues at some point.

French fintech Formance secures $21m in Series A funding

French fintech firm Formance, which offers open-source infrastructure for building financial applications, has garnered $21m in a Series A financing round. The investment, which will support Formance’s market expansion and platform development, was co-led by PayPal Ventures and Portage Ventures. Y Combinator, Hoxton Ventures, and Axeleo Capital also contributed to the round. Formance co-founder Anne-Sybille Pradelles said: “This new funding will…

Formance secures USD 21 million in Series A funding round

France-based Open Source financial infrastructure provider Formance has announced that it obtained USD 21 million in a Series A funding round.

PayPal-Backed Formance Raises $21 Million to Grow Open-Source Ledger

Open-source financial infrastructure provider Formance raised $21 million in a Series A funding round to grow its Ledger and other solutions that help developers build financial flows and products. The funding round was co-led by PayPal Ventures and Portage and came after a 12-month period in which Formance increased its revenue by 10 times, according to a Wednesday (Jan. 29) press release. “This new funding will fuel Formance’s expansion across…

Fintech Investment Surge: $21 Million Secured for Infrastructure Expansion

A Major Investment in Fintech Infrastructure A fintech company has raised $21 million in a Series A funding round to enhance financial technology infrastructure. The company aims to build a cloud-based service tailored for fintech applications, similar to how Amazon Web Services (AWS) revolutionized cloud computing. This funding round attracted participation from major investors, reflecting the growing interest in scalable financial infrastructu…