"It's been tough recently, the divorce is going ahead," Stella told the Sun. "I need to move on.
"I've been out with Toby several times – he's a charming chap."
Stella and her estranged husband are parents to two little boys, Frank aged five and Edward, seven.
Toby, who found fame as a Children's BBC presenter in the 1990s, was most recently romantically linked to Priscilla Presley, former wife of singer Elvis.
Stella has been making headlines recently after becoming embroiled in a high-profile legal battle with her former employer, Lord Alan Sugar.
She unsuccessfully sued the Apprentice boss for constructive dismissal, alleging she was forced out of a "sham job".
The businesswoman has claimed that the strain of the court case ended her two-year marriage to plumber Ray.
"My husband has left," she revealed on ITV's Daybreak. "I haven't slept for weeks trying to cope with the fact that I'm an unemployed single mother. It's a nightmare."
Stella, who earned £80,000-a-year as a bank trader before taking part in The Apprentice, was seen applying for Jobseeker's Allowance in Sittingbourne at the start of the month.