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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
A ledger is a record of money movements that serves as the source of truth for financial assets, but when a company starts having multiple bank accounts, payment processors and funds spread across discrete services, it can become a headache to manage. French startup Formance started out trying to capitalize on this need with an open-source, programmable financial ledger that can track all assets moving in and out of your accounts. And then we started to prepare to move from a single ledger product to the Formance platform with other modules — the reconciliation part, for example, connectors to payments services, etc.” co-founder and CTO Clément Salaün told TechCrunch.
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