Borderlink, which trades as GoFibre, has received a further £164m investment from Gresham House to accelerate its full fibre rollout in Scotland and the north of England.
Guernsey's incumbent ISP, Sure, has secured £37.5m of funding to supply full fibre to all 30,000 homes on the island by 2026. The investment includes a capped investment of up to £12.5m from the States of Guernsey.
Sure will begin rolling out Guernsey Fibre in early 2022 and is beginning a recruitment campaign to help accelerate the rollout.
Justin Bellinger, Sure's Guernsey Chief Executive, said: "Guernsey Fibre is going to bring faster speeds across the island and will support islanders' increasingly digital lifestyles.
"Crucially, it also demonstrates Guernsey's ability to compete in the digital age on an international scale. We're confident it will help our island home stand out as an adopter of new technologies and a pioneer of new ways of working."