London-based ultrafast broadband provider Community Fibre has secured an additional £50m of funding from institutional investors RPMI and Amber Infrastructure.
With over 70,000 London homes passed to date, the additional investment will enable Community Fibre to expedite its ambitious capital-wide growth strategy with the aim of ultimately passing 500,000 homes.
So far it has signed wayleaves with eight Borough Councils and nine Housing Associations, including 50% of London’s top ten landlords.
Marcus Allchurch, Partner at Acuity Advisors (which advised Community Fibre on the funding), said: “There is a great opportunity for this company to continue building towards its target of passing half a million homes.”
Acuity MD Richard Baker added: “The announcement of Community Fibre’s £50m funding comes hot on the heels of Call Flow’s recent transaction. The M&A market remains buoyant with telecoms continuing to be a key sector for us.”