Stable: Success story – from the farm in a 60 million dollars funding
The FinTech was founded on a family farm in Somerset and conducts risk assesment products for both multinational food and beverage companies and small family farms
Stable raised 60 million dollars in a Series B funding. The FinTech uses hedging to protect businesses from volatile commodity. The funding round was led by Acrew, while notable investors Greycroft, Notion Capital, Syngenta and Continental Grain Company also participated.
Stable will use the new funds to help its clients understand and manage their price risk. The new initiatives will see the collection of financial news through Stable Media, the investment in the Stable Data suite of products to visualize and evaluate markets, and the development of Stable Risk from its current focus on options to offering customers swaps and collars.”Hedging is considered complex and risky for most business owners, but the benefits of achieving stability and predictability in a state of results should not be intended only for giant multinationals and sophisticated traders,” says Counsell. “Businesses of all sizes, sectors and locations should be able to understand and manage their price risk so that they can invest in the future with confidence.”
Stable’s rural roots have proven to be a fertile environment
The Company has now “flourished” throughout the U.S., Europe and Asia and employs over 60 commodity experts, quants and data scientists. The company is on track to transfer 1 billion dollars by 2025 from the food and agriculture industry to reinsurance and capital market partners.Stable was founded in 2017 by Rich Counsell in an old cow shed on its family farm in Somerset, UK. Despite its humble start, Counsell’s vision of making hedging simple and affordable meant that the business grew rapidly and now lists over 500 non-negotiable commodities that can be offset on the platform. Its customers range from multinational food and beverage companies to family farms all over America.