FTTH supplier to London, Community Fibre has secured an additional £50 million in funding from RPMI and Amber Infrastructure.
With more than 70,000 London homes passed to date, the additional investment will enable the provider to accelerate its growth strategy. So far, it has signed wayleaves with eight borough councils and nine housing associations, including 50 per cent of London’s top 10 landlords.
As well as the latest funding announcement, Community Fibre has also made a new appointment in Graeme Oxby as CEO. Oxby will commence his role in August.
Chris Sellers, chair at Community Fibre, commented: ‘This latest round of investment clearly demonstrates a strong vote of confidence in both our success so far and our plans for future growth.’
Richard Moon, investment director at RPMI, said: ‘Given the full-fibre multi-play opportunities emerging in the market, Community Fibre is clearly well-positioned to build upon its already impressive growth. With the extra resources at its disposal and dynamic new leadership in place, we look forward to quickly making London a gigafast city.’
Khalid Naqib, head of digital investment at Amber Infrastructure, said: ‘Since our first investment in Community Fibre last year, the business has matured rapidly and scaled its rollout four-fold. We see enormous potential for it to grow further and faster and we will continue to help ensure it has all the resources it needs to achieve its ambition of delivering a full fibre future for all of London.’
