The funding will enable the London ISP to continue to roll out its fiber network to 2.2 million London homes through the end of 2024.
Community fiber builds, operates and owns its dedicated 100% full-fiber network, using state-of-the-art technology to deliver fast and reliable broadband using 100% ftp. Community fiber is already the largest and fastest 100% full fiber broadband provider in London. There are currently 675,000 ready-to-serve homes in London and the South East. The new funding is made up of £685 million of committed facilities and a further £300 million of uncommitted facilities.
This follows a £400 million investment announced by ISP in 2020, with majority equity agreements with Warburg Pincus LLC and DTCP Advisory Fund, as well as its existing investors Amber Infrastructure and RPMI Railpen.
We are pleased that lenders are seeing the impact of our growing network and the level of customer interest in faster, more reliable and more affordable broadband access," said Community Fiber's CEO. At a time when many households are worried about money, community fiber can provide better service at a lower price. We can now accelerate our network rollout to bring these benefits to more customers."
Community Fiber's Chairman added:- "Both the lenders and our shareholders believe that Community Fiber's momentum will further cement its position as the best and largest FTTH provider in London."
