Chicago-based Sudrania Fund Services is to rebrand as Formidium, as part of a company transformation.
Formidium will also be split into two sub-brands: Formidium Fund Services and Formidium Technologies.
The rebrand includes a new name and logo that Formidium says better reflects the company’s presence in the investment middle and back-office.
Established in 2016, Formidium has gained growth and expansion through its two applications, Seamless Investment BackOfficeTM (Seamless) and CommonSubDocTM.
Seamless uses automation to produce general ledger investment accounting systems, and processes high-frequency trading volumes to deliver timely net asset value for digital asset and liquid alternative investment funds, as well as to private equity and real estate fund vehicles.
CommonSubDocTM is designed to simplify investor onboarding with e-signature technology and capital activity tracking using client relationship management technology.
The new branding will be rolled out across the globe in the coming weeks, and will include a new website offering the products of both Formidium and Formidium Technologies.
Nilesh Sudrania, CEO and founder at Sudrania, says: “It is extremely gratifying to see the vision we had a few years ago being appreciated in the larger marketplace. Even though we have come far, we remain dedicated to innovation and being at the cutting edge of back- and middle-office technology.”
Shalin Madan, co-founder and chief growth officer, comments: “The Formidium name is rooted in the company’s formidability in a digital world. We think the new branding will better articulate to the world why we have been able to achieve what we have to date.”
