Formance is an open-source stack for fintechs and platforms to build and track end-to-end complex money flows. They provide engineering and product teams with a low-code programming language for money movement (Numscript), an immutable system-of-record for transactions (Ledger), a set of connectors to fit in their payment stack, and a reconciliation module.

Formance

Formance is an open-source stack for fintechs and platforms to build and track end-to-end complex money flows.

We provide engineering and product teams with a low-code programming language for money movement (Numscript), an immutable system-of-record for transactions (Ledger), a set of connectors to fit in their payment stack (e.g. payment providers) and a reconciliation module.

« What’s at stake for Formance is to become the standard Open Source framework to master complex, evolving financial flows »

I had the opportunity to talk about my career and what we do at Formance with Thomas Yeddou for his newsletter La Finance du Dimanche.

We talked about :
- Scaling a startup from 3 to 120 people (Alsid) 🚀
- Open Source Ledgers 💶
- Managing the complexity of financial flows ⚙️
- Our challenges ⚡️

The link is in comments to discover the interview (in French) ⬇️

Thanks again Thomas for the great chat!

Formance will be at FinTech R:Evolution organized by France FinTech at Maison de la Mutualité!

Join us on October 19th 👉 https://lnkd.in/eEfdZDKn

#FFT23 #fintech #finance

Interesting read emphasizing the critical nature of robust ledger management and accurate reconciliation.

The core issue involves significant challenges faced by Synapse and Evolve in reconciling accounts and transactions across their various systems.

« The cost attribution issue, the reconciliation problems, and other charges Pathak (Synapse founder and CEO) describes as being erroneously taken from Evolve’s user FBO drove a total deficit in FBO funds in excess of $13 million. »

Link here: https://lnkd.in/gbJd64Vh

Just wrapped up an incredible few weeks in SF!

- Outstanding pitches at TechCrunch Disrupt - congrats to the winner BioticsAI!- and great advice for event prep and elevator pitch from the TC team Michael J Schick
- The YC reunion was a blend of candid conversations and unforgettable dinners Anh-Tho Chuong Amine Skalli Benjamin N. Mounir Laggoune Julien Blancher
- Super thrilled to meet the brilliant people behind the tools we use daily at Formance (👋 Pylon) and got serious envy for a much cooler office in Paris! 

We’ll be back soon! Clément Salaün Benjamin Andoque

Exciting times this week at TechCrunch Disrupt 2023!

We had a wonderful time connecting with other tech start-ups, founders, and investors. Lots of very interesting panels and chats on fintech new technologies, AI and the current VC dynamics. 

Feel free to ping us if we didn’t have a chance to meet there.

#TCDisrupt2023 #TechCrunch #StartupBattlefield

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