Hyperoptic to Expand 1Gbps Network in UK with $27 Million Investment

  • Hyperoptic
LONDON — Hyperoptic has secured a $27.8 million investment from the European Investment Bank (EIB) to provide 1 Gbps fiber broadband to more than a half million homes in cities across the UK. This significant investment from EIB along with Quantum Strategic Partners (Quantum), a private investment fund managed by Soros Fund Management, brings the total investment into Hyperoptic to more than $100 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 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.

“Hyperoptic is excited by the European Investment Bank’s investment, which will further fuel our roll out and addressable market expansion. The confidence of both EIB and Soros Fund Management supports the importance of FTTP in providing a boost to the UK’s digital infrastructure and economy,” said Dana Tobak, CEO of Hyperoptic.

Connecting 300,000 Homes in Three Years
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 three years.

“The European Investment Bank is pleased to support Hyperoptic’s roll-out of super-fast broadband in cities across the UK. This exciting new initiative will transform economic activity, healthcare, education and access to key services and represents the EIB’s first targeted support to address slow urban communications in UK,” said Jonathan Taylor, European Investment Bank Vice President.

Hyperoptic has been growing its network reach by over 100 percent 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 fiber experience.

Since 1975 the European Investment Bank has provided more than $6.6 billion for telecom broadband and telecommunications across the UK and has supported investment by Vodafone, EE, British Telecom, Gigaclear, Arqiva and Inmarsat. Over the last five years the European Investment Bank has provided nearly EUR 13 billion to improve broadband and telecommunications across Europe.


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