Stable, a fintech that uses hedgeing to protect businesses from volatile commodity prices, has closed a $60 million Series B round.
Stable will use the new funding to help clients understand and manage their price risk. New initiatives will see the aggregation of financial news via Stable Media, investment in the Stable Data product suite to visualize and assess the markets, and the development of Stable Risk from its current focus on options to offering clients swaps and collars.
“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,” says Counsell. “Businesses of every size, sector and location should have the ability to understand and manage their price risk so they can invest in the future with confidence.”
Stable’s rural roots have proven a fertile environment as the company has now germinated across the US, Europe and Asia and employs over 60 commodity experts, quants and data scientists. The company is on track to transfer $1bn of risk by 2025 from the food and farming industry to reinsurance and capital market partners.
The funding round was led by Acrew with notable investors Greycroft, Notion Capital, Syngenta and Continental Grain Company also participating in the round.
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