Fast-growing Edinburgh fintech appoints high-profile chairman as revenues top £10m
An Edinburgh-based financial technology firm set up less than three years ago has appointed its first chairman after reporting revenues of more than £10 million.
Founded at the end of 2018 by managing director Colin Frame, Stellar Omada has grown its team to more than 100 people.
The fast-growing capital fintech specialises in programme delivery, technology transformation, testing services and innovation with clients including some of the UK’s largest financial services and tech sector players.
Royston Hoggarth who becomes the firm’s chairman, also heads the board at a number of other UK tech businesses including Innovation Group, Xchanging Information Services and Cirrus Response. He is also the chair of England Hockey.
Hoggarth spent his formative years with IBM, before moving into executive and board roles with IBM, Logica, Cable & Wireless, IPSL, BT and Hays. More recently he has chaired several private equity-backed businesses, including Northgate Public Services and Arkessa.
Stellar Omada reported revenues of £10.1m for the year to the end of December with pre-tax profits of £1.4m.
Frame said: “Stellar Omada is one of the fastest-growing fintech businesses in the UK, and we’re excited to bring Royston on board to help guide us through our next phase of growth.
“Royston brings invaluable experience from the technology and financial sectors, and an incredible network of contacts, both in the UK and internationally, which will enable us to grow the business even more rapidly.”
Hoggarth said: “I have had the pleasure of getting to know Colin and the Stellar Omada team over the last few years, including during my time with Intelligent Processing Solutions Limited and have been greatly impressed with company’s pragmatism and operational focus in delivering results for clients.
“Stellar Omada is one of the most exciting fintechs on the UK scene, and I look forward to supporting the company’s trajectory in the months and years ahead.”
Chief financial officer Zoe Lee added: “Looking ahead, we are on track for continuing and significant revenue growth again in the current year, our balance sheet is strong, and well positioned to support the strategic direction of the business going forward.”