Formidium, a prominent fintech company based in the United States, announced the inauguration of its new office in India, signaling its intent to bolster its operations in the country.
The newly established Centre of Innovation (COI) in Bengaluru will serve as a hub for the company’s tech-driven endeavors, with plans to recruit over 40-50 professionals across various roles in the next three years.
Nilesh Sudrania, founder and CEO of Formidium, expressed enthusiasm about the move, emphasizing the rich talent pool available in India’s own Silicon Valley. Sudrania stated, “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.”
He further outlined the company’s ambitious hiring plans, noting, “We will hire over 40-50 candidates in the next three years and expect to double the headcount in the next five years.”
The focus of the newly established office will be on spearheading deep tech development initiatives, with a particular emphasis on blockchain, artificial intelligence (AI), and fintech innovations. Formidium aims to recruit skilled professionals across various domains including cloud computing, security, blockchain, and Generation AI (Gen AI) for its COI. Open positions will span across engineering, architecture, and product development roles.
Formidium has had a presence in India’s major cities since 2016, including Jaipur and Ahmedabad, with a total workforce exceeding 800 employees across the country. The company’s core mission revolves around leveraging technology to revolutionize fund administration and investment management practices.
