Hyperoptic has secured GBP 150 million (USD 192 million) from the UK Infrastructure Bank (UKIB) to accelerate its full fiber network expansion.
The United Kingdom’s leading alternative full fiber provider has raised a total of GBP 255 million (USD 326 million) in debt facilities this year, from both new and existing lenders, to bolster its growth initiatives and rollout plans, underscoring strong backing for its strategic direction.
This announcement coincides with Hyperoptic’s milestone achievements, having delivered gigabit speeds to UK homes and connected over 1.73 million households, benefiting more than 340,000 customers. The expansion strategy focuses on expanding network access, particularly in underserved areas, aiming to bridge the digital divide and enhance connectivity nationwide.
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Furthermore, Hyperoptic remains committed to extending its services to social housing, where access to reliable full-fiber broadband is often limited. Leveraging the UKIB’s investment and combining it with Hyperoptic’s dedication to providing accessible broadband solutions, residents in social housing will gain access to affordable gigabit-capable broadband through the company’s ‘social tariff.’
Dana Tobak CBE, CEO and Co-Founder at Hyperoptic, expressed that, since 2011, the company has been dedicated to delivering ultra-reliable, hyper-fast, full-fiber broadband to businesses and consumers in urban areas and new developments throughout the UK.
“We’re acutely aware of the government’s target to achieve 99% gigabit-capable broadband coverage by 2030 and, as an industry, we still have some way to go to achieve it. We welcome the support of the UK Infrastructure Bank, together with other investors, enabling us to continue delivering award-winning gigabit-capable broadband to more people across the UK every day,” Tobak expounded.
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Vincent Policard, Partner and Co-Head of European Infrastructure at KKR and a member of the Hyperoptic Board, confirmed that Hyperoptic maintains a leading position in the market with superior customer products in the UK. He highlighted that securing this additional funding enables the Hyperoptic team to expand their rollout to more locations, thereby making their network more accessible to consumers seeking an improved online experience.
Ian Brown, Head of Banking & Investments at UKIB, stated, “Reliable internet connectivity is increasingly important to participate in the modern economy and drive forward the UK’s net-zero and regional growth ambitions.”
Brown emphasized that the UKIB’s investment in Hyperoptic aims to maintain the scale and pace of the full fiber rollout, particularly focusing on areas with the greatest need. This initiative aims to create opportunities for numerous communities across the UK.
Additionally, the UKIB hopes that its commitment will encourage additional private debt financing to support Hyperoptic’s ongoing network expansion.
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