Fibrus connects 50,000th customer and secures additional £35m

Fibrus has now connected 50,000 customers to its network in Northern Ireland and the north of England.

The altnet’s network coverage data to the end of August confirms it has reached 300,000 homes of which 273,000 are ready to be connected. It hit the quarter of a million homes milestone back in March.

Colin Hutchinson, Financial Officer & Chief Revenue Officer said: “We have tripled our customer base in just one year and our growth is accelerating as we continue our rollout and build our brand in northern England.

Fibrus has received an additional £35m tranche of equity funding from its shareholder Infracapital bringing its total investment in Fibrus to £150m.

Its rollout is also financed by its existing £220m loan facility and more than £300m in government funding.

It is planning to raise further equity and debt to fund its Road to One Million plan.