Commodity hedging platform Stable secures $60m Series B
Agricultural commodity hedging platform Stable has landed a $60 million Series B funding round.
The round was led by Acrew and saw participation from Greycroft, Notion Capital, Syngenta and Continental Grain Company. Acrew’s Vishal Lugani will also join Stable’s board of directors.
Stable, the self-proclaimed ‘home of hedging’ for the $5 trillion agricultural commodity industry, bills itself as a way for businesses to “protect themselves from volatile commodity prices”.
Founded in 2017 in Somerset, UK, Stable now lists more than 500 untraded commodities that can be hedged on the platform. Its clients range from multinational food and drink companies to family farms across the Americas.
Stable will use the cash from the Series B to invest in new products, including a financial news aggregator and a risk management solution.
Stable CEO Rich Counsell says: “Hedging is seen as complex and risky to most business owners, yet the benefits of bringing stability and predictability to an income statement shouldn’t be reserved for giant multinationals and sophisticated traders.”
Stable now operates across the US, Europe and Asia, employing more than 60 commodity experts, quants and data scientists.