Community Fibre has secured an additional GBP 125 million in funding following its latest debt financing round, raising its total investment to GBP 1.1 billion.
The latest debt financing, which aims to expand its network and minimize in-contract and end-of-contract price increases, was backed by banks such as JP Morgan, Barclays, Landesbank Baden-Württemberg (LBBW), Sequoia, and Alpha Bank.
Graeme Oxby, CEO of Community Fibre, said, “Community Fibre has been, and will continue to be, highly focused 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 5 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.”
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Olaf Swantee, Community Fibre Chairman, noted that the lenders and shareholders believe Community Fibre’s momentum will continue to solidify its position as London’s leading full-fiber provider. Notably, the company also revealed that it has been EBITDA positive since April 2024.
Community Fibre has extended its full-fiber broadband network to over 1.3 million premises in London and has signed up around 310,000 customers. Its services cater to both consumers and businesses.
In 2022, Community Fibre secured a major financing deal worth GBP 985 million to support its goal of expanding its Fiber-to-the-Premises (FTTP) rollout to 2.2 million locations by the end of 2024. However, by late 2023, the company decided to temporarily halt network expansion, implementing job cuts and shifting its focus towards enhancing marketing and sales efforts to deliver stronger returns to investors.