Hyperoptic has secured a £150 million commitment from the UK Infrastructure Bank (UKIB), increasing its committed debt facility to over £1.1 billion. This funding supports the government’s efforts to expand gigabit-capable broadband across the UK.
Hyperoptic has already passed more than 1.73 million homes and connected 340,000 customers to gigabit-capable full fibre. The additional £150 million from UKIB, along with £255 million of debt facilities raised this year from new and existing lenders, will further accelerate Hyperoptic’s rollout and growth plans.
Dana Tobak CBE, CEO and Co-Founder at Hyperoptic, stated: “Since 2011, we’ve been on a mission to bring ultra-reliable, hyperfast full fibre broadband to businesses and consumers across urban areas and new developments in the UK. We’re acutely aware of the government’s target to achieve 99% gigabit-capable broadband coverage by 2030 and, as an industry, we still have some way to go to achieve it. We welcome the support of the UK Infrastructure Bank, together with other investors, enabling us to continue delivering award-winning gigabit-capable broadband to more people across the UK every day.”
Vincent Policard, Partner and co-head of European Infrastructure at KKR and Hyperoptic Board Member, said: “Hyperoptic continues to have a market-leading position and superior customer product in the UK. Securing this additional funding allows the Hyperoptic team to extend the roll out to more premises, making its network more widely available to consumers seeking an enhanced online experience.”
Ian Brown, Head of Banking & Investments at UKIB, added: “Reliable internet connectivity is increasingly important to participate in the modern economy and drive forward the UK’s net zero and regional growth ambitions. Our investment in Hyperoptic will ensure that the scale and pace of the full fibre rollout is sustained, specifically in those areas where it’s needed the most, opening up opportunity for numerous communities across the UK. We hope that our commitment will help mobilise further private debt financing for Hyperoptic’s continued network expansion.”
