UK, London,  Thursday 24th October 2024: Community Fibre, the UK’s top ranked Broadband provider according to the UK’s consumer champion Which? and the Internet Service Providers’ Association (ISPA), has today announced that it has signed a new finance facility provided and/or arranged by JP Morgan, Barclays, LBBW, SIMCo (Sequoia Investment Management Company) and Alpha Bank raising a total of £125m, overachieving planned targets and bringing total investment in the company to £1.1bn.

The company also announced it has been EBITDA positive since April 2024, news which was warmly welcomed by existing shareholders Warburg Pincus LLC, DTCP, Railpen and NDIF, and its lenders. 

Community Fibre builds, operates, and owns its 100% full fibre network making available the most advanced technology with the fastest speeds to 1.3m homes and businesses across London. Community Fibre has connected more than 310,000 residents and businesses across the capital and has seen an 85% increase in its customer base in the past 12 months as more people look to alternative networks (Altnets) for faster, more affordable 100% full fibre broadband along with better service.  Businesses include Nando’s and London Grid for Learning (LGFL). It has also signed multiple wholesale agreements with major UK internet service providers, making it the only London-based Altnet to do so.

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.” 

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_{About Community Fibre}

_{Community Fibre is London’s best quality broadband, providing fast, affordable, sustainable connections for everyone. As of November 2023, it has passed 1.3 million homes across and around the capital, with more than 185,000 London-based businesses within 200 metres of Community Fibre’s network footprint. Using the UK’s best broadband technology, it is bringing Gigafast broadband at unbeatable speeds and prices to the capital, helping Londoners do more and be more. Community Fibre also operates in parts of Surry and Sussex under its own brand, where prior to May 2024 it was operating as Box Broadband.}

_{As the Best Internet Provider network on Trustpilot, commanding an ‘Excellent’ rated service with more than 41,000 5-star reviews (August 2024), Community Fibre offers speeds of up to 3 Gbps for consumers – up to 43x faster than the UK average download speed and 163x faster than the UK average upload speed, as well as broadband packages of up to 10 Gbps for businesses.}

_{In March 2024, Community Fibre achieved the top ranking by Which? in its 2024 customer satisfaction survey, as well as the UK’s #1 leading broadband provider by Broadband Savvy (August 2023). Community Fibre was awarded 2023’s Best Alternative Network by Uswitch. In November 2023, Community Fibre was recognised at the Internet Service Provider Association (ISPA) Awards as the UK’s Best Consumer ISP in its category for the fourth consecutive year and Best Business ISP for the second year in a row.}