Netomnia, a prominent UK-based alternative network provider, recently fortified its position with a successful £300 million debt raise. This financial boost comprises contributions from existing investors I Squared Capital and Palistar Capital, alongside new lending from Rand Merchant Bank and Bain Capital. An additional £140 million in commitments highlights investor confidence in Netomnia’s expansion strategy.
The funds complement Netomnia’s previous £880 million senior debt commitment, bringing total financial backing to £1.2 billion. This substantial capital influx supports their ambitious network expansion plans, targeting five million connected premises by 2027. Currently, Netomnia and its partners service 2.7 million premises, with 375,000 actively connected.
Jeremy Chelot, CEO of Netomnia and its affiliates, remarked, “The last funding round was oversubscribed, showing the clear demand for Netomnia from both new and existing lenders. This £140 million extension reinforces confidence in our ability to deliver at scale while staying firmly on track with our build plan and profitability targets. Our mission remains clear: connecting millions more homes and businesses with the UK’s most powerful internet.”
Investors like Bain Capital are confident in Netomnia’s vision and market impact. David Haswell, a Director at Bain Capital, stated, “Bain Capital is delighted to support Netomnia as they reshape the UK fibre market by delivering both innovation and resilience in critical infrastructure. The leadership team has an impressive track record of execution and a clear vision for the next phase of bringing affordable, full-fibre connectivity to more UK consumers.”
Netomnia’s swift rollout highlights its efficiency and aggressive build strategy. With a construction rate aiming at one million premises annually, it stands as a key player in UK’s digital landscape. The company’s partnership with YouFibre and brsk also underscores strategic alliances in reaching connectivity targets.
Support from major investors and successful financial campaigns demonstrate a promising trajectory. With growing market demand and strategic financial inputs, Netomnia’s aim of enhancing connectivity while pursuing profitability seems attainable. They represent a pivotal force in advancing the UK’s digital infrastructure. As they progress, their ability to manage financial and operational dynamics will be pivotal in charting their success.
