Freedom Fibre secures £84m Series A investment from Equitix to expand network rollout
Equitix led the financing alongside a debt facility from Santander to support regional infrastructure expansion.
Freedom Fibre builds and operates full fibre broadband networks targeting semi urban areas across the North West of England. The business uses existing infrastructure to deliver connectivity to residential premises.
Freedom Fibre has secured £84m in Series A funding from infrastructure investor Equitix to accelerate its network rollout across the North West. The transaction forms part of a wider funding package that includes a debt facility from Santander, bringing total commitments to £100m.
The capital will support the business in expanding its fibre optic footprint from nearly 20,000 homes towards a target of 70,000 premises by the end of the year. The long term strategy aims to reach over 2 million properties in chosen locations.
Equitix led the investment round as part of its portfolio of core infrastructure assets. The company works alongside established wholesale agreements to scale its service offering.
From the founder
"We are delighted to have secured this investment from Equitix which will help to materially accelerate Freedom Fibre's rapid operational progress."
Darren Woods
CFO at Freedom Fibre
Investor perspective
"We are looking forward to investing in and developing Freedom Fibre's network roll-out. We believe Freedom Fibre is a strong business, operating in an essential infrastructure sector that has a critical role in providing connectivity for both the people and the economy of the North West. This sizeable investment further enhances Equitix's network infrastructure that distributes essential utilities to over 6.3 million customers across the UK and Europe. Freedom Fibre's network roll-out will continue our strategic aims to provide local communities with affordable, high-quality essential infrastructure."
Hugh Crossley
Chief Executive Officer, Equitix
Use of funds
- 01Build out infrastructure
- 02Expand into international markets
Investors
Categories
About the company
Freedom Fibre
Freedom Fibre provides full fibre broadband connectivity to homes across the North West.