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Formidium appoints Mandar N. Mhatre as the Global Chief Revenue Officer (CRO) in its leadership team

Global fund services & technology company Formidium Corp. aims to boost its growth and revenues.

February 28, 2024

CHICAGO, February 28, 2024 (GLOBE NEWSWIRE) – Formidium Corp., a global provider of investment fund administration services and technology, announced the appointment of Mandar N. Mhatre as the Global Chief Revenue Officer (CRO) of the company.

Mandar has a diverse experience in leadership roles across banking, finance, investing, strategy, and mentoring. He was previously the country head for Apex Group where he scaled the office 25x+ and helped establish operations, marketing, technology, and finance functions, and was involved deeply in developing local products and revenue franchises along with initiating acquisitions.

As the CRO at Formidium, Mandar will be operating from Mumbai. In this role, he will be part of the top leadership team at Formidium overseeing global revenues and growth while guiding teams across sales & marketing, customer success, products, and revenue operations and performance. He will steer Formidium’s go-to-market strategy, acquisitions, technology, and licensing.

Formidium is a global leader in providing cutting-edge fund technology and back-office solutions. With a commitment to innovation and excellence, Formidium empowers financial institutions with comprehensive tools to navigate the evolving landscape of the financial industry. Formidium has developed proprietary technologies that offer a variety of applications 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).

Commenting on the appointment, Nilesh Sudrania, Founder and CEO, of Formidium said “Formidium has developed modern and scalable technology platforms to service its client base across private equity, hedge, real estate, digital assets, and other alternative funds globally. With over 1,200 funds actively served by our technology, we are well positioned to scale our client base and market share. Mandar will be instrumental in our execution of the scaling strategy, as he brings in his experience of having done it multiple times. We are very excited to have him on board and are looking forward to working with him.”

Mandar N. Mhatre, Chief Revenue Officer, Formidium on his appointment, said “The fund administration industry has significant headroom for enhancing client servicing, harnessing technology effectively and developing innovative solutions. This presents immense opportunities for Formidium to make an impact with its state-of-the-art platform and talented team. With a marquee and fast-growing client base across 30+ jurisdictions, Formidium is poised to grow at an industry leading pace in the next few years. I’m privileged to have the opportunity to work with the team and help them reach new heights and achieve our common goals.”

Mandar holds an M.M.S. (Finance) from Welingkar Institute of Management, Mumbai University, along with a Bachelor of Commerce from R.A. Podar College of Commerce & Economics, Mumbai University

Recently, Formidium has opened its Centre of Innovation (COI), a new office in Bengaluru.

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