Stable secures £1.2m from the Development Bank of Wales to fund expansion
The funding will support cybersecurity growth and the development of a training academy.
Cardiff-based Stable provides freelance technology expertise and digital solutions, specialising in cloud technology, cybersecurity and digital transformation.
Cardiff-based technology consultancy Stable has secured £1.2m in equity and debt financing from the Development Bank of Wales. The funding will support the company as it accelerates its growth, expands its presence in the cybersecurity sector, and develops its training academy.
Founded in 2001, the company provides freelance technology expertise, cloud solutions, and digital transformation services to government departments and private clients. It currently employs 60 people and anticipates its turnover will exceed £19m by 2026.
The Development Bank of Wales has previously backed the consultancy with loans in 2019 and 2021. This latest injection comes from the £500m Wales Flexible Investment Fund.
From the founder
"Our mission is to drive meaningful change by enabling teams to collaborate and innovate through technology. Having partnered with Microsoft for over two decades, we have a deep understanding of how workplace technology can transform organisations, but we recognise that true digital transformation is as much about people and culture as it is about technology."
Ans Aspden
Founder and Chief Executive at Stable
Investor perspective
"Stable has a clear vision for the future of work and is making a significant impact in a fast-growth sector. The team has achieved impressive revenue growth in recent years, capitalising on increasing digitalisation and the rise of new workplace technologies. We are excited to support them on the next stage of their growth journey."
Sam Macalister-Smith
Portfolio Executive, Development Bank of Wales
Use of funds
- 01Fund research and development
- 02Expand into international markets
