Netomnia, a UK wholesale fibre operator, and YouFibre, the fibre broadband service provider, have raised funding of GBP 123 million to support the national roll-out of fibre broadband in the UK.
Set up in 2019, Netomnia plans to deploy its network to reach one million premises by 2023, after more than 75,000 premises passed to date. Netomnia said it is on track to reach over 100,000 premises by end-2021, with YouFibre on track to reach more than 5,000 customers.
The GBP 123 million funding raised includes GBP 20 million from ESO Capital Partners, GBP 25 million from AdvenCap, and GBP 73 million from Avenue Capital Group. The remaining GBP 5 million has come from company founders.
