Community Fibre nets £985m funding boost

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The funding will enable the London ISP to continue to execute its fibre network roll-out to 2.2m London homes by the end of 2024.

Community Fibre builds, operates, and owns its dedicated 100% full fibre network with the most advanced technology available to deliver fast and reliable broadband using 100% FTTP. Community Fibre is already London’s largest and fastest 100% full fibre broadband provider. Community Fibre currently has 675,000 ready-for-service homes across London and the South-east. The new funding is made up from £685m committed facilities with a further £300m uncommitted accordion.

The secured finance facility follows the ISP’s £400m investment announcement in 2020 where it reached a majority stake agreement with funds advised by Warburg Pincus LLC and DTCP, alongside its existing investors Amber Infrastructure and RPMI Railpen

Graeme Oxby, CEO of Community Fibre says: “We are delighted that lenders have seen the impact of our ever increasing network and the level of customer interest in faster, more reliable and more affordable broadband access. In a time of money worries for many families, Community Fibre has been able to deliver a better service for a lower price. We will now be able to accelerate our network roll out and bring these benefits to a much larger number of customers.”

Olaf Swantee, Chairman of Community Fibre adds: “The lenders and our shareholders share the view that Community Fibre’s momentum will further strengthen its position as the best and largest FTTH provider in London.”

Area of impact where Lumos will initially bring its 100% Fiber Optic Internet and Total Home Wi-Fi in Johnston and Harnett County, North Carolina. (Graphic credit: Business Wire)

26 May 2023

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