Trooli has received a £67.5m senior debt facility to help the ISP connect one million premises in the south east to full fibre by 2024.
The funding, which comes from a consortium of commercial lenders, helps the altnet expand its footprint from its current 100,000 premises to 170,000 by the end of 2021, 400,000 during 2022 and one million in 2024.
CFO Ashley Atkins said: “Securing this level of funding underpins our ambitious growth plans and is a vote of confidence in Trooli as a business and the product we offer.
“Despite us running a small, targeted process the offer has been many times oversubscribed. This fresh investment clearly demonstrates the banking community shares our vision.”
The rollout is set to create 200 jobs and boost the digital capabilities of 300 towns and villages.
The deal was facilitated by the Connecting Europe Broadband Fund, which has backed Trooli’s expansion to date.