When was Forma founded?

Forma was founded in 2017 and raised its 1st funding round 2 years after it was founded.

Where is Forma located?

Forma is headquartered in Fremont, United States. It is registered at Ropažu nov., Garkalnes pag., Bukulti, Atpūtas iela 1 - 4.

Who is the current CEO of Forma?

Jason Fan of Forma. They have also founded 1 company.

Which legal entities is Forma associated with?

Forma is associated with FORMA.

How many employees does Forma have?

As of Feb 28, 2026, the latest employee count at Forma is 214.

Is Forma a funded company?

Forma is a funded company, having raised a total of $57.6M across 5 funding rounds to date. The company's 1st funding round was a $***** Seed round, raised on Mar 14, 2019.

When was the latest funding round of Forma?

Forma's latest funding was a $***** Series B round on Mar 08, 2022, with participation from 9 investors.

Where does Forma rank among its competitors?

Forma ranks 117th amongst 3175 active competitors, of which 472 are funded. It stands 11th in terms of total funding among its competitors. The most recent competitor to raise funding was Tide, which secured an undisclosed amount in Sep, 2025.

Who are the top competitors of Forma?

Forma's top competitors include Nubank, Brex and Monzo. Among them, Tide secured the most recent funding round in September, 2025.

Forma - 2026 Company Profile, Team, Funding & Competitors

Company Details

Provider of platform for managing flexible employee benefits and spending accounts. The platform enables employees to select benefits that align with their needs. It offers tools for personalized benefits, claims administration, and budget management. The platform supports pre-tax and post-tax spending accounts, including lifestyle spending and health reimbursement arrangements.

Website: www.joinforma.com/
Social
Email ID: *****@joinforma.com
Registered Address: Ropažu nov., Garkalnes pag., Bukulti, Atpūtas iela 1 - 4

Key Metrics

Founded Year

2017

Location

Fremont, United States

Stage

Series B

Total Funding

$57.6M in 5 rounds

Latest Funding Round

Series B, Mar 08, 2022, $*****

Investors

Ribbit Capital & 11 more

Ranked

117^th among 3175 active competitors

Employee Count

214 as on Feb 28, 2026

Similar Companies

Nubank & 1969 more

View Forma's full profile

Forma is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
FORMA CIN: 44103128453 , Latvia, Active	Sep 23, 2019	$1.52M (As on Dec 31, 2024)	5 (As on Dec 31, 2022)	-

Forma has raised a total funding of $57.6M over 5 rounds. Its first funding round was on Mar 14, 2019. Its latest funding round was a Series B round on Mar 08, 2022 for $*****. 9 investors participated in its latest round. Forma has 9 institutional investors and 3 angel investors.

Here is the list of recent funding rounds of Forma:

Filter this list

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Mar 08, 2022	8415249	Series B	1402222	7219356	9809911	7495282
2020	3456	Series A	4102	8405	1017	Emergence Capital
Nov 01, 2019	8125574	Grant (prize money)	8168914	8982682	9869522	Europa

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View details of Forma's funding rounds and investors

The founders of Forma are Max Hsieh and Jason Fan. Jason Fan is the CEO of Forma.

Here are the details of Forma's key team members:

Max Hsieh: Co-Founder & CTO of Forma and founder of 2 other companies, Evolve and Twic.
Contact Info: 2 email addresses
Jason Fan: Co-Founder & CEO of Forma and founder of 2 other companies, Evolve and Twic.
Contact Info: 2 email addresses

View details of Forma's Founder profiles and Board Members

Forma's employee count trend

Forma has 214 employees as of Feb 26. Here is Forma's employee count trend over the years:

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Top competitors of Forma include Nubank, Brex and Monzo. Here is the list of Top 10 competitors of Forma, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Nubank 2013, Sao Paulo (Brazil), Public	Provider of digital banking services, including credit cards and accounts	$2.27B	Sequoia Capital, DST Global & 39 others	89/100
2nd	Brex 2017, Draper (United States), Acquired	Provider of financial software platform, cards, banking, expense, and accounting	$1.2B	Greenoaks, DST Global & 63 others	85/100
3rd	Monzo 2015, London (United Kingdom), Series I	Provider of digital banking services including accounts payments, savings and investments	$1.81B	General Catalyst, Passion Capital & 63 others	84/100
4th	Accolade 2007, Plymouth Meeting (United States), Acquired	Cloud-based platform for employee health benefits	$228M	McKesson, Andreessen Horowitz & 17 others	83/100
5th	Tide 2015, London (United Kingdom), Series C	Provider of business accounts, payment solutions, and financial management tools	$181M	Augmentum Fintech, Apax & 48 others	83/100
6th	Starling Bank 2014, London (United Kingdom), Series D	Internet-first bank offering digital banking services for consumers and businesses	$1.06B	Merian Global Investors, Goldman Sachs & 35 others	83/100
7th	Revolut 2015, London (United Kingdom), Series E	Provider of banking solutions for retail customers and businesses	$1.99B	Balderton Capital, TCV & 139 others	83/100
8th	Mercury 2017, San Francisco (United States), Series C	Provider of business banking, cards, expense management, and payment solutions	$346M	Coatue, Sequoia Capital & 54 others	83/100
9th	N26 2013, Berlin (Germany), Series E	Provider of mobile banking services, including savings, investment, and crypto	$1.72B	Tencent, Valar Ventures & 46 others	83/100
10th	Qonto 2017, Paris (France), Series D	Provider of business account, payment cards, and financial management solutions	$717M	Alven, Valar Ventures & 25 others	82/100
117th	Forma 2017, Fremont (United States), Series B	Provider of platform for managing flexible employee benefits and spending accounts	$57.6M	Ribbit Capital, Advisors.Fund & 10 others	62/100