Netomnia has raised £230m in committed debt financing alongside its sister ISP company YouFibre.
The package comes from a group of six bank lenders, comprised of HSBC UK, ING, NIBC, RBC, Standard Chartered and UKIB. It includes an accordion to be raised in the future to support the continued growth of the business.
The altnet recently passed 410,000 premises ready for service and has connected 28,000 customers.
Wil Wadsworth, CFO at Netomnia and YouFibre, said: “The enthusiasm from these institutions to support our business is a testament to our successes and our unique approach.”
“Everyone in the UK is impacted by the rising cost of living, and interest rates are hitting businesses and families alike. Now more than ever it’s vital that we continue to build our network at pace.”