Community Fibre, the UK broadband provider, has signed a new finance facility provided and/or arranged by JP Morgan, Barclays, LBBW, SIMCo (Sequoia Investment Management Company) and Alpha Bank raising a total of £125 million (€150.2m), overachieving planned targets and bringing total investment in the company to £1.1 billion.

The company also announced it has been EBITDA positive since April 2024, news which was welcomed by existing shareholders Warburg Pincus, DTCP, Railpen and NDIF, and its lenders.

Community Fibre builds, operates, and owns its 100 per cent full fibre network making available advanced technology with fast speeds to 1.3 million homes and businesses across London. Community Fibre has connected more than 310,000 residents and businesses across the capital and has seen an 85 per cent increase in its customer base in the past 12 months as more people look to alternative networks (Altnets) for faster, more affordable 100 per cent full fibre broadband. Businesses include Nando’s and London Grid for Learning (LGFL). It has also signed multiple wholesale agreements with major UK internet service providers, making it the only London-based Altnet to do so.

Graeme Oxby, CEO of Community Fibre, commented: “Community Fibre has been and will continue to be highly focussed on delivering the best customer experience and the best value for money in the market. Our success here, growing from just 10k customers at the start of 2020 to over 310k in less than five years, has driven a strong lender appetite. We and our financial backers are aligned on driving acquisition growth and confident in overachieving our penetration targets.”

Olaf Swantee, Chairman of Community Fibre, added: “The lenders and our shareholders share the view that Community Fibre’s momentum will further strengthen its position as the best and largest full fibre only provider in London and is a vote of confidence in its strong management team and their ability to commercialise the large London network.”

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Categories: Articles, Broadband, Business, Funding

Tags: broadband, Community Fibre, ISP, London