Formidium opens its Centre of Innovation (COI)- a new office in Bengaluru; aims to hire over 40–50 employees.

Global FinTech Company Formidium targets to onboard talent across Cloud, Security, Blockchain and Gen AI in India.

February 12, 2024

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Bengaluru, February 6: – US-based Formidium Corp., a global provider of investment fund administration services and technology, has announced the setting up of its new office, known as the Centre of Innovation (COI), in Bengaluru. Formidium plans to hire over 40–50 employees for different roles in the next 3 years in its new Bengaluru office.

Formidium Corp. has been operational in the major cities of India since 2016, like Jaipur and Ahmedabad, with a total of over 800 employees in India. Formidium opens Centre of Innovation (COI) in Goodworks Infinity Park in Electronic City in Bengaluru that will focus on deep tech development and will lead the research, development, and execution efforts in blockchain, AI, and fintech. Formidium is looking to hire talent across cloud, security, blockchain, and Gen AI for the COI. Positions are open across engineering, architecture, and product roles.

Downers Grove, IL, USA-headquartered Formidium is a fintech company that prioritises technology to change the way fund administration and investment management are handled. Formidium has developed proprietary technologies for fund accounting (‘Seamless Investment Backoffice’), investor onboarding (‘CommonSubDoc’), client revenue management system (‘Universe’) and handling digital asset data collection and accounting (‘Crypto Backoffice’). Formidium’s expertise spans a wide range of fund and investment types, including digital asset and crypto funds, drawdown funds (PE, VC, real estate, SPVs), liquid alternatives (hedge funds/CPOs, impact funds, CTAs), and multi-asset (family office/endowment).

Nilesh Sudrania, founder and CEO, Formidium said, “We are excited to set up another office in India, i.e., in Bengaluru. We are looking to tap into the exciting talent pool available in India’s Silicon Valley to provide momentum to our journey as a tech-enabled fintech firm in the fund administration business. We will hire over 40-50 candidates in the next 3 years and expect to double the headcount in the next five years.”.

Formidium provides innovative technology solutions for fund managers, offering high-quality fund services with global reach. The USP of the company is Delivering Premier Services Through Pioneering Technology.