Community Fibre has secured a new £125 million financing facility arranged by JP Morgan, Barclays, LBBW, SIMCo, and Alpha Bank, raising the company’s total investment to £1.1 billion. This milestone comes as Community Fibre, which builds and owns a 100% full-fibre network across London, became EBITDA positive in April 2024. With a rapid rise from 10,000 customers in 2020 to over 310,000 today, the provider is making strides as an alternative network (Altnet), targeting faster and more affordable broadband. CEO Graeme Oxby and Chairman Olaf Swantee expressed confidence in the company’s growth trajectory.
Graeme Oxby, CEO of Community Fibre said:
“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 10k customers at the start of 2020 to over 310k in less than 5 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.”
Olaf Swantee, Chairman of Community Fibre added:
“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.”
