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APIs · head to head

Formance vs Steampipe

Formance logo

Formance

APIs

Open source double-entry ledger and payment orchestration for money-moving software

From
Free
Rated
-
Full reviewWebsite
Steampipe logo

Steampipe

Developer Tools

Query cloud APIs, SaaS tools and code with SQL, with no extract or load step

From
Free
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Formance formance holds no money and provides no regulatory cover, so it must be paired with a payments provider or bank, and buyers occasionally mistake a ledger for a treasury system and discover the gap late.; Steampipe aGPL-3.0 across all four engines is a procurement blocker at organisations that ban the licence outright, and the network clause reaches any internal portal or service that puts a web interface in front of it.
  • They diverge on capability: Formance covers Double-entry ledger, Steampipe covers SQL over live APIs.
  • Prices and features above were last checked on 31 August 2026.

Where they differ

Only the attributes on which Formance and Steampipe actually diverge.

Attributes where Formance and Steampipe differ
AttributeFormanceSteampipe
Pricing modelOpen source, no licence feeOpen source, with paid hosting through Turbot Pipes
PlatformsLinux, Docker, Kubernetes, Web, APImacOS, Linux, Windows, Docker, Web
CategoryAPIsDeveloper Tools

Identical on both: starting price (Free), free tier (Yes), user rating (Not yet rated).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Formance

  • Double-entry ledger
  • Numscript transaction DSL
  • Multi-currency
  • Payments connectivity
  • Reconciliation
  • Self-hosted deployment
  • Cloud offering
  • API and SDKs

Only in Steampipe

  • SQL over live APIs
  • Wide plugin set
  • Embedded Postgres
  • Compliance benchmarks
  • Joins across providers
  • Hosted option

What people use each for

The jobs each tool is most often brought in to do.

Formance

  • A marketplace splitting a single customer payment between seller, platform fee and tax that needs the split to be atomic and auditablenot Steampipe
  • A fintech whose homegrown balances table produced numbers finance could not reconcile and now needs proper double-entry before an auditnot Steampipe
  • A payments team that wants one normalised model across several PSPs so reconciliation is not written separately for eachnot Steampipe
  • A company that wants its ledger under a licence it can keep running even if the vendor disappearsnot Steampipe

Steampipe

  • Security teams answering posture questions against live cloud accounts rather than a nightly exportnot Formance
  • Compliance evidence gathering where the answer must reflect the account at the moment it is askednot Formance
  • Inventory and drift questions spanning several cloud providers in one querynot Formance
  • Engineers who would rather write SQL than learn each provider command line toolnot Formance

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Formance

  • Formance holds no money and provides no regulatory cover, so it must be paired with a payments provider or bank, and buyers occasionally mistake a ledger for a treasury system and discover the gap late.
  • Numscript is a domain-specific language your team must learn, and while it makes complex splits expressible it also means transaction logic sits outside the languages your engineers already debug well.
  • Self-hosting a ledger that must never lose or duplicate a transaction is a serious operational commitment covering backups, upgrades and Postgres tuning, which is real cost the zero licence fee hides.
  • Enterprise pricing is not published, so the difference between the free path and the supported path cannot be evaluated without a sales conversation.
  • The company is much smaller than the incumbent alternatives, and while the MIT licence protects the code it does not protect the roadmap, so features on the hosted side may arrive slowly or change direction.

Steampipe

  • AGPL-3.0 across all four engines is a procurement blocker at organisations that ban the licence outright, and the network clause reaches any internal portal or service that puts a web interface in front of it.
  • Dashboards, benchmarks and mods were removed from Steampipe entirely at version 1.0 in October 2024 and now live in a separate product, so pre-2024 documentation and tutorials describe commands that no longer exist.
  • Live querying is bound by cloud provider API rate limits and keeps no persistent store by default, which is why a separate DuckDB-backed product exists for log volumes and why large accounts return slowly.
  • The company is fifteen people and bootstrapped, maintaining four command line tools plus a hosted service plus two further products, and the newer tools have thin community traction relative to that surface area.
  • Hosted tiers include only three users regardless of tier, with additional Enterprise users charged separately, so a team of thirty costs an order of magnitude more than the headline figure before compute and storage are counted.

Pricing, plan by plan

Formance

Free
  • Open SourceFree
    • MIT licensed core ledger
    • Numscript transaction DSL
    • Multi-currency tracking
  • Enterprise$undefined/year
    • Managed or private deployment
    • Payments connectivity and reconciliation
    • Support with response commitments

Steampipe

Free
  • Steampipe CLIFree
    • AGPL-3.0
    • All plugins
    • No user or query limits
  • Pipes DeveloperFree
    • One user
    • 400 compute minutes
    • 3GB storage
  • Pipes Team$49/month
    • Three users
    • 2,000 compute minutes
    • 20GB storage
  • Pipes Enterprise$249/month
    • Three users
    • 10,000 compute minutes
    • 100GB storage

Which should you pick?

Choose Formance if

  • You need double-entry ledger.
  • You want to start without paying.
  • You work on Linux, Docker, Kubernetes, Web, API.
  • You also want numscript transaction dsl.
Formance review

Choose Steampipe if

  • You need sql over live apis.
  • You want to start without paying.
  • You work on macOS, Linux, Windows, Docker, Web.
  • You also want wide plugin set.
Steampipe review

Questions people ask

Is Formance or Steampipe better?
Neither clearly leads. Formance starts at Free and Steampipe at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Formance or Steampipe?
Formance starts at Free and Steampipe at Free.
Does Formance or Steampipe run on more platforms?
Formance runs on Linux, Docker, Kubernetes, Web, API. Steampipe runs on macOS, Linux, Windows, Docker, Web.
Can I use Formance for free?
Both have a free tier, so you can try either at no cost before committing.
What is Formance best used for?
Formance is most often used for a marketplace splitting a single customer payment between seller, platform fee and tax that needs the split to be atomic and auditable, a fintech whose homegrown balances table produced numbers finance could not reconcile and now needs proper double-entry before an audit, a payments team that wants one normalised model across several psps so reconciliation is not written separately for each, a company that wants its ledger under a licence it can keep running even if the vendor disappears. Of those, a marketplace splitting a single customer payment between seller, platform fee and tax that needs the split to be atomic and auditable and a fintech whose homegrown balances table produced numbers finance could not reconcile and now needs proper double-entry before an audit are not what Steampipe is typically brought in for.
What can Formance do that Steampipe cannot?
Formance covers Double-entry ledger, Numscript transaction DSL, Multi-currency, Payments connectivity. Steampipe covers SQL over live APIs, Wide plugin set, Embedded Postgres, Compliance benchmarks.

Answered from the vendors’ own pages

Formance: Is Formance really open source?

Yes. The core ledger is MIT licensed with full source access and no deployment restrictions.

Steampipe: When did Steampipe become AGPL?

May 2021, about four months after the project went public. It is a settled licence rather than a recent change, and predates the Business Source Licence wave it is often confused with.

Formance: Does Formance move money?

No. It records and orchestrates movements; the actual payments happen at a PSP or bank you connect.

Steampipe: Where did the dashboards and benchmarks go?

Into Powerpipe. They were deprecated in March 2024 and removed from Steampipe at version 1.0 in October 2024, so the check, dashboard, mod and variable commands are gone.

Formance: What does the enterprise version cost?

Not published. It is an annual subscription quoted per customer.

Steampipe: Is it fast on a large cloud estate?

Not always. Queries call provider APIs at request time, so rate limits rather than query planning set the pace, and there is no persistent store by default.

Formance: Do I have to use Numscript?

Yes for anything beyond the simplest transfers. It is how multi-party transactions are expressed atomically.

Steampipe: Does the AGPL affect internal use?

Running it internally for your own analysis is fine. Putting a web interface in front of it that other people use is where the network clause becomes a question for your legal team.

Steampipe: Is a bootstrapped vendor a risk?

It cuts both ways. There is no investor pressure toward a licence change or an exit, and there are also fifteen people supporting a large product surface.

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