Lightspeed Broadband has secured investment from new and existing investors to accelerate its rollout to 25 towns across the East of England.
The new £60m investment comes from Sequoia Economic Infrastructure Income Fund and builds on LightSpeed’s original £55m backing from AtmosClear Investments, Kompass Kapital and Thesaurium, bringing total funding to date to £115m.
LightSpeed aims to hit one million homes by 2025, having built its in ten towns across South Lincolnshire and West Norfolk since April this year.
Steve Haines, CEO, LightSpeed Broadband said: “Our strategy of building in an environmentally conscious way and providing a first-class locally-based customer experience has created ‘The LightSpeed Way’ and a blue-print for future growth.”
Tim Prussing, VP, Sequoia Investment Management Company added: “This facility will enable Lightspeed to deliver what has become an essential service to parts of the UK.
“Critical to our decision to lend was the sustainable approach of Lightspeed and positive impact of connecting underserved parts of the country to full fibre broadband, which will address regional inequality and help in levelling up the country.”