Community Fibre bags £50m funding boost for London broadband rollout
London-focused full-fibre broadband company Community Fibre has secured an additional £50m of funding to support its rollout in the capital.
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Community Fibre said the backing, which comes from its two institutional investors, RPMI and Amber Infrastructure, will accelerate its ambition of reaching 500,000 homes.
The Paddington-headquartered company has already passed more than 70,000 homes in the capital and has secured agreements to build from eight borough councils and nine housing associations.
Community Fibre also announced the appointment of Graeme Oxby as its new chief executive. Oxby, who has previously held top roles at Liberty Global and Lebara, will take the reins next month.
“This latest round of investment clearly demonstrates a strong vote of confidence in both our success so far and our plans for future growth,” said Community Fibre chair Chris Sellers.
“Graeme joins us at a point when the business has built a solid foundation and is ready to achieve scale. As the world of fibre converges into other areas, his proven track record as a mobile and telecoms leader will bring exactly the experience Community Fibre needs to expand into new areas.”
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Community Fibre is one of a number of challenger broadband firms rolling out the new high-speed network in the UK.
The government has previously stated its ambition to reach every home across the country by 2033.
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