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Hyperoptic secures £100million to accelerate full fibre rollout
Hyperoptic secures £100million to accelerate full fibre rollout
July 28, 2017
Hyperoptic secures £100million to accelerate full fibre rollout
- Now passing 350,000 UK homes and businesses
- Now available or installing in 28 towns and cities across the UK
- Ambition to pass two million homes and businesses by 2022
- Diverse backing from both UK and European tier one banks
Hyperoptic, the UK’s largest residential gigabit broadband provider, today announces that it has secured an additional £100million in funding to accelerate the build of its full fibre network. The cash injection comes from a consortium of four ‘tier one’ European banks – BNP Paribas, ING, RBS and Dutch investment bank NIBC. LionTree Advisors acted as exclusive financial advisor to Hyperoptic.
Full fibre broadband from Hyperoptic is currently available across 28 cities and towns across the UK. Over the last six years Hyperoptic has grown its network fivefold. Its full fibre broadband now passes 350,000 residential homes and business units. This funding supports Hyperoptic’s new ambitious plan to grow its network another sixfold and make its hyperfast broadband service available to two million homes by 2022 and five million by 2025.
Dana Tobak, CEO of Hyperoptic, explains: “We are proud to have created a network of gigabit cities where residents can live and work without connectivity constraints. Through private funding and partnerships with developers, freeholders, and councils we have hugely increased our footprint – but it’s our customers that have been the biggest catalyst in fueling our growth.
“We have a 4* Trustpilot rating; the highest in the industry. Our customers have really supported us by sharing their experiences with their neighbours, family and friends, which has meant that we have been able to expedite our rollouts across urban centres. This new round of funding enables us to offer even more people a credible broadband alternative that is future-proofed for decades to come.”
Hyperoptic runs its own dedicated Fibre-to-the-Premises (FTTP) network, which is why it can offer symmetrical gigabit broadband services – 1,000Mbps - the fastest broadband speed in the UK today. It has been growing its network reach by over 100% for the last three years in a row. During this process it has installed over 20 million metres of dedicated cable - further than the distance from the UK to New Zealand.
This funding will allow Hyperoptic to exponentially expand its coverage, to consumers and businesses that have been left neglected by the big players like BT, and that we have not been able to reach in the past. Hyperoptic is also evolving its business model to offer its market leading services to sites starting at just 25 units - plus based upon the demand for its services and proximity of its fibre network, it can even service smaller sites.
Exchequer Secretary to the Treasury, Andrew Jones, said: “Full-fibre is the gold standard of broadband connectivity – and through companies like Hyperoptic, our commitment to world-class digital infrastructure for everyone in the UK is already becoming a reality. We’re investing over £1 billion in next generation digital communications, including our recently launched £400 million Digital Infrastructure Investment fund, and a five year business rates relief on new full-fibre investment – all of which will stimulate the market, and expand full-fibre networks around the country.”
Jean-Philippe Rouane, Head of Media Telecom Finance, BNP Paribas, Corporate and Institutional Banking EMEA said: “We’re delighted to support Hyperoptic in the next stage in its rapid development. Their impressive progress is positive for the quality of telecom services offered to customers and reflects the growth opportunities the fast-paced UK telecoms market offers to new ideas.”
Kamalini Ganguly, Senior Analyst, Broadband and Multiplay, Ovum adds: “It is clear that Hyperoptic has impressed customers in 28 cities across the UK with its symmetrical 100Mbps and 1Gbps broadband services and has rapidly established itself as a leading broadband provider in the nation’s biggest cities. The additional £100 million funding will enable Hyperoptic to expand its footprint further and provide more competition for bigger providers such as British Telecom and Virgin Media. An increase in competitive broadband choices can only be good for UK consumers.”
Hyperoptic has previously received funds of over £75m. In 2016 the European Investment Bank agreed to provide £21m to fuel Hyperoptic’s rollout and addressable market expansion. In 2013 Hyperoptic received an equity investment led by Quantum Strategic Partners Ltd, a private investment vehicle managed by Soros Fund Management LLC.
Full fibre broadband from Hyperoptic is currently available across 28 cities and towns across the UK. Over the last six years Hyperoptic has grown its network fivefold. Its full fibre broadband now passes 350,000 residential homes and business units. This funding supports Hyperoptic’s new ambitious plan to grow its network another sixfold and make its hyperfast broadband service available to two million homes by 2022 and five million by 2025.
Dana Tobak, CEO of Hyperoptic, explains: “We are proud to have created a network of gigabit cities where residents can live and work without connectivity constraints. Through private funding and partnerships with developers, freeholders, and councils we have hugely increased our footprint – but it’s our customers that have been the biggest catalyst in fueling our growth.
“We have a 4* Trustpilot rating; the highest in the industry. Our customers have really supported us by sharing their experiences with their neighbours, family and friends, which has meant that we have been able to expedite our rollouts across urban centres. This new round of funding enables us to offer even more people a credible broadband alternative that is future-proofed for decades to come.”
Hyperoptic runs its own dedicated Fibre-to-the-Premises (FTTP) network, which is why it can offer symmetrical gigabit broadband services – 1,000Mbps - the fastest broadband speed in the UK today. It has been growing its network reach by over 100% for the last three years in a row. During this process it has installed over 20 million metres of dedicated cable - further than the distance from the UK to New Zealand.
This funding will allow Hyperoptic to exponentially expand its coverage, to consumers and businesses that have been left neglected by the big players like BT, and that we have not been able to reach in the past. Hyperoptic is also evolving its business model to offer its market leading services to sites starting at just 25 units - plus based upon the demand for its services and proximity of its fibre network, it can even service smaller sites.
Exchequer Secretary to the Treasury, Andrew Jones, said: “Full-fibre is the gold standard of broadband connectivity – and through companies like Hyperoptic, our commitment to world-class digital infrastructure for everyone in the UK is already becoming a reality. We’re investing over £1 billion in next generation digital communications, including our recently launched £400 million Digital Infrastructure Investment fund, and a five year business rates relief on new full-fibre investment – all of which will stimulate the market, and expand full-fibre networks around the country.”
Jean-Philippe Rouane, Head of Media Telecom Finance, BNP Paribas, Corporate and Institutional Banking EMEA said: “We’re delighted to support Hyperoptic in the next stage in its rapid development. Their impressive progress is positive for the quality of telecom services offered to customers and reflects the growth opportunities the fast-paced UK telecoms market offers to new ideas.”
Kamalini Ganguly, Senior Analyst, Broadband and Multiplay, Ovum adds: “It is clear that Hyperoptic has impressed customers in 28 cities across the UK with its symmetrical 100Mbps and 1Gbps broadband services and has rapidly established itself as a leading broadband provider in the nation’s biggest cities. The additional £100 million funding will enable Hyperoptic to expand its footprint further and provide more competition for bigger providers such as British Telecom and Virgin Media. An increase in competitive broadband choices can only be good for UK consumers.”
Hyperoptic has previously received funds of over £75m. In 2016 the European Investment Bank agreed to provide £21m to fuel Hyperoptic’s rollout and addressable market expansion. In 2013 Hyperoptic received an equity investment led by Quantum Strategic Partners Ltd, a private investment vehicle managed by Soros Fund Management LLC.
