Scottish firm Stellar Omada has appointed its first Chair as the Edinburgh-headquartered fintech startup reports revenue of £10.1 million for the year to 31st December 2020.
Royston Hoggarth, Stellar Omada’s new chair, also heads the board at a number of other UK tech companies, including Innovation Group, Xchanging Information Services and Cirrus Response.
Hoggarth spent several 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 Limited.
Commenting on the appointment, Stellar Omada founder and MD, Colin 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 added: “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.”
- DIGIT Deal Roundup Column | April 2021
- Are smart cities a vision of the future, or just another security nightmare?
- HSBC Voice ID system cuts telephone banking fraud in half
Founded in 2018 by Colin Frame, Stellar Omada specialises in programme delivery, tech transformation, testing services and innovation, and boasts sizeable clients across the financial services and technology sectors.
Its client base includes Royal Bank of Scotland and iPSL, while client wins during Q1 include London-based wealth manager 7IM (Seven Investment Management).
Since launching, the company has expanded rapidly and now employs more than 100 staff.
Commenting on the firm’s annual results, chief financial officer (CFO) Zoe Lee said: “We were delighted with the second-year results and we would like to thank our clients and staff for putting their trust in the company.
“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.”