Community Fibre has raised a further £125 million in funding, bringing total investment in the company to £1.1 billion.
Community Fibre’s latest debt raise, which will support its network rollout and push to offer lower in-contract and end-of-contract price rises, has been funded by banks including JP Morgan, Barclays, Landesbank Baden-Württemberg (LBBW), Sequoia and Alpha Bank.
Graeme Oxby, the chief executive of Community Fibre, said that securing fresh funding from new lenders was a “testament to what we’re doing”.
He added, "Community Fibre has been and will continue to be highly focussed on delivering the best customer experience and the best value for money in the market. Our success here, growing from just 10,000 customers at the start of 2020 to over 310,000 in less than five 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.”
The company also announced that it has been EBITDA positive since April 2024.
Community Fibre has passed more than 1.3 million premises in London and has signed up around 310,000 customers to its full fibre broadband network.
It offers services directly to consumers as well as to businesses.
The altnet, which has completed most of its network build, has increased its customer base by 85 per cent over the last 12 months.
Olaf Swantee, chairman of Community Fibre, said, “The lenders and our shareholders share the view that Community Fibre’s momentum will further strengthen its position as the best and largest full fibre only provider in London and is a vote of confidence in its strong management team and their ability to commercialise the large London network.”