Stellar Omada posts £16.3 million revenue
Edinburgh-based Stellar Omada has recorded revenue of £16.3 million in the year to 31st December 2022, up from £9.1m in the previous year.
The company, which specialises in programme delivery and service management, marked its 4th anniversary in 2022, and CEO Colin Frame says there will be a big focus on new client wins in 2023.
Mr Frame, founder and managing director of Stellar Omada, said: “As proud as I am of what we have achieved so far, I am even more excited by what is to come for the business as we continue to deliver at scale for our clients.”
He continued: “The results are a tribute to the expertise and hard work of all our people, and there is a growing demand for the services we provide.
“We continue to focus on getting more young people into technology roles to help fill the digital skills gap, especially in Scotland, and as our business expands we are able to offer even more opportunities.”
CFO Zoe Lee said: “Achieving another year of double-digit growth in 2022 was a real source of pride for everyone involved with Stellar Omada.”
Stellar Omada launched an advisory board in 2022, with experienced financial services executives Mark Smith and Russell Saunders as its first appointees.
Mr Frame added: “The creation of our advisory board is a signal of intent, and these appointments are designed to ensure that we remain on track with our ambitious growth plans.”
Mr Smith has operated at board and executive committee levels for over 25 years in large and small banking and financial services businesses. Since 2015, he has been a special advisor to end clients which have included HSBC, first direct, Santander, Lloyds Banking Group and several large Building Societies. He has also held several non-executive director and Trustee positions including start-up and AIM-listed businesses.
Mr Saunders brings over 40 years’ experience working with global banks, regulators, and technology firms, including the support of firms who specialise in technology and banking Services, and global payment and compliance solutions.
Royston Hoggarth, Stellar Omada’s chair, said: “Having Mark and Russell in place will be invaluable as Stellar moves into its next phase of growth, as both bring a wealth of experience and a vast network which the company can leverage over the months and years ahead.”
Other appointments to the leadership team include Laura Paterson joining as HR director. Ms Paterson spent over a decade with Shell specialising in HR, organisational changes and learning programmes, is a former board trustee at Scotland Women in Technology, and was in a senior role at the Net Zero Technology Centre in Aberdeen before joining Stellar.
Stellar Omada continues to work closely with clients from the banking, pensions, and investment management sectors including Hampden & Co, IPSL, Atos, and NatWest.
Stellar Omada also strengthened its commercial relationship with Heart of Midlothian FC during the year, including its sponsorship of the First Team’s away kit, and ongoing support to Heart of Midlothian’s Innovation Centre including the delivery of digital skills to young people.