Hyperoptic to expand 1Gbps network in UK with GBP 21m from EIB
This significant investment from EIB along with Quantum Strategic Partners Ltd. (Quantum), a private investment fund managed by Soros Fund Management LLC, brings the total investment into Hyperoptic to more than GBP 75 million.
EIB’s investment along with continued support from Quantum further validates Hyperoptic’s business model, execution ability, and ability to remain the largest 1 Gbps Fibre-to-the-Premises (FTTP) broadband provider in the UK.
The larger footprint will enable even more residential and business users to benefit from the UK’s fastest internet speeds using more advanced broadband infrastructure than is currently available through incumbents.
This represents the European Investment Bank’s largest ever dedicated backing for an internet network investment in the UK.
The new eight-year European Investment Bank loan will be used to support Hyperoptic’s planned expansion of 1 Gbps Internet access to urban areas that only have slow access at present.
Hyperoptic currently operates in 13 UK cities, but has already announced expansion to 20. The EIB backed network expansion seeks to reach more than 300,000 homes in the next 3 years.
Hyperoptic has been growing its network reach by over 100% per year in the past few years and will continue its current pace of growth within existing cities and expanding by opening new ones.
With the most flexible product set on the market, Hyperoptic ensures customer satisfaction and an excellent Fibre experience.
Recently awarded ISPA’s Best Superfast broadband for the 4th year running, Hyperoptic continues to be a beacon and leader in rolling out 1 Gbps FTTP broadband across the UK. ■