Formidium Company Market Research Report
Company Overview
Name: Formidium Corp.
Mission: To harness technology and team expertise to streamline complex back-office operations and investment calculations.
Founded: 2016
Founder: No information is available.
Key People:
- Manish Agrawal - Co-Founder & CSO
- Nitin Somani - Co-Founder & COO
- Rakesh Kumar - CTO
- Shalin Madan - Co-Founder & CGO
- Mandar Mhatre - CRO
- John Manley - CMO
- Chris Meader - Head of Fund Admin
Headquarters:
- USA: 633 Rogers St, Suite 106, Downers Grove, IL 60515
- Additional locations in India, Canada, and Singapore
Number of Employees: 750+
Revenue: No information is available.
Known For:
Formidium is known for redefining fund administration with accuracy and efficiency. They serve investment managers across various asset classes, providing advanced technology solutions for fund administration, tax services, and compliance support.
Products
Seamless™
Description: A cloud-based integrated solution that consolidates and automates fund administration functions and reporting for portfolio, fund, and investor accounting.
Key Features:
- Automated fund administration
- Streamlined reporting and compliance
- Enhanced productivity
CommonSubDoc™ (CSD)
Description: An enterprise technology solution for managing the investor onboarding lifecycle and providing customized reporting.
Key Features:
- Web-based platform for investor onboarding
- Comprehensive management for investment transactions
Finalytic
Description: A customer lifecycle and revenue management portal designed to provide access to company applications, invoices/payments history, and document exchange.
Key Features:
- Comprehensive client relationship management
- Real-time access to financial data
Marketplace
Description: Premier environment for showcasing funds to accredited investors and connecting with allocators, fund managers, and service providers.
Key Features:
- Networking and marketing platform for alternative investments
- Integration with external systems for seamless operation
Recent Developments
New Products Launched:
1. Finalytic: Launched for advanced client billing with cryptocurrency payments (Dec 28, 2023)
2. Ironbase Compliance: Introduced for fund compliance and AML officer services (Sep 18, 2023)
Key Events:
1. Seamless Blockchain Conference: Hosted in Jaipur to promote blockchain awareness (June 29, 2024).
2. Seamless Blockchain Conference Highlights:
- Keynote addresses from fintech industry leaders
- Panel discussions on blockchain’s impact on HR, marketing, operations and real-world asset tokenization
3. Hackathon 2.0: Following a successful hackathon event, Formidium showcased advancements in blockchain and AI (June 25, 2024).
Additional Updates:
1. New Offices:
- Centre of Innovation (COI) in Bengaluru to foster technological advancements (Feb 12, 2024)
2. Sponsorships:
- Sponsorship of Major League Soccer club Chicago Fire FC (Mar 13, 2024)
3. New Partnerships:
- Razor State Consulting's entrance into Singapore’s corporate services for investment management companies (Feb 27, 2024)
Conclusion
Formidium is positioning itself as a leader in fund administration by integrating cutting-edge technology with deep industry expertise. With continuous innovation and a strong global presence, the company is set to drive significant changes in the financial and technology sectors.
