US-based trading insurance provider Stable has received $46.5m in series A funding from investors including grain trader Continental Grain, agribusiness Syngenta and insurance underwriter Ascot, TechCrunch reported yesterday.
Greycroft led the round, which also featured fellow venture capital firm Notion Capital and venture investment platform Anthemis.
Stable operates an online platform which offers insurance that covers fluctuations in the prices of commodities, helping traders minimise risk.
The cash will fund the recruitment of data scientists and sales and marketing staff, in addition to an expansion from the UK and North America to Central and South America, and from food to commodities like packaging, energy and timber.
The round came in the wake of $6m in seed capital from Syngenta, Anthemis and Canada Pension Plan Investment Board in December 2019, and TechCrunch also named Ascot as an existing investor.
