Magazines
Newsletter
Advertise
Search
The Business Magazine - B2B Business News - Site Logo
The Business Magazine - B2B Business News - Site Logo
The Business Magazine July 2024
Read now
PICK YOUR EDITION

Netomnia and YouFibre secure £230 million in funding

The Business Magazine article image for: Netomnia and YouFibre secure £230 million in funding
22 March 2023

Tewkesbury-based UK full-fibre infrastructure provider Netomnia and its ISP sister company YouFibre, has raised £230 million in committed debt financing.

Netomnia has successfully completed its latest fundraise from a group of six bank lenders, comprised of HSBC UK, ING, NIBC, RBC, Standard Chartered, and UKIB.

The financing package also includes an accordion to be raised in the future to support the continued growth of the business.

The backing comes at a pivotal moment in Netomnia’s network deployment.

The company has become the fourth largest altnet in the UK in two and half years, recently passing 410,000 premises ready for service and connecting 28,000 customers.

Its build speed continues to accelerate as it closes in on the goal of one million homes and businesses passed.

Wil Wadsworth, CFO at Netomnia and YouFibre, said: “We are very pleased to welcome this new group of lenders to Netomnia and are thrilled they have chosen to support the continued acceleration of our business.

"The enthusiasm from these institutions to support our business is a testament to our successes at Netomnia and YouFibre, and our unique approach to building our full fibre network and providing best-in-class Internet speeds and services to customers across the UK.

“Everyone in the UK is impacted by the rising cost of living, and interest rates are hitting businesses and families alike.

"Now more than ever it’s vital that we continue to build our network at pace to provide better and more affordable broadband to as many homes and businesses as we can.”

Netomnia and YouFibre were advised by Rothschild & Co and Allen & Overy.


Share 

Peter Davison is deputy editor of The Business Magazine. He has spent his life in journalism – doing work experience in newsrooms in and around Bristol while still at school, and landing his first job on a local newspaper aged 19. By 28 he was the youngest newspaper editor in the country.

An early advocate of online news, he spent the first years of the 2000s telling his bosses that the internet posed both the biggest opportunity and greatest threat to the newspaper industry and the art of journalism. He was right on both counts.

Since 2006 he has enjoyed a career as a freelance journalist. He lives in rural Wiltshire with one wife, two children, and three cats.

Latest deal ticket

All deals

Events

All events

Related news


Group Titles

Dorset BIZ NewsHampshire BIZ News
crossmenu