Formance

Formance is an open-source financial infrastructure company that gives developers a programmable core ledger and a connectivity layer for moving money across banks, payment processors, and wallets. Its stack - Ledger, Connectivity, Flows, and Reconciliation - lets fintechs and platforms track every asset movement with double-entry precision, orchestrate payments across providers, and automatically reconcile internal records against external statements. Founded in 2021 and backed by PayPal Ventures and Portage, Formance positions itself as building-block infrastructure for the 'financial internet' rather than a payment processor that touches customer funds.