Great news for G.Network! London’s full fibre broadband provider has secured an additional £85 million in funding from its long-term equity investor, USS. This investment reflects G.Network’s progress in its mission to create a better-connected London.
The company is hitting its targets, driving average revenue per user (ARPU) towards £50, thanks to its dense mix of affluent consumers and businesses. Operational improvements have cut connection times and costs, pushing G.Network’s Trustpilot rating to an all-time high of 4.5.
Recent milestones include resuming their build programme in February 2024 and forming wholesale partnerships with Cerberus Networks and Spitfire, offering speeds up to 10Gb.
Looking forward, the new funding will help G.Network accelerate growth, making Gigafast speeds more accessible and affordable. They plan to expand their B2B retail and wholesale business, develop more fibre networks with partners like Boldyn Networks, and support smart city applications. Additionally, they will continue to partner with landlords and developers to pre-wire flats and office blocks, making the switch to fibre easy for customers.
Kevin Murphy, CEO, commented: “It is an exciting time to be at G.Network as we continue to build momentum in terms of our operational and financial performance. Our vision to build a better-connected London is coming to fruition and would not have been possible without the ongoing investment and support of USS, who, along with the whole team, are looking to G.Network’s future with confidence”.
