Abingdon-based broadband ISP Gigaclear, which has built a full fibre (FTTP) network across 612,000 premises in rural parts of England and is home to c.160,000 customers, has today announced that they’ve secured “at least” £80m in new funding from its consortium of existing banks. The provider now claims to be “fully funded to deliver its plans“.
The provider, which is this month celebrating its 15th birthday after taking on the huge challenge of trying to expand FTTP across rural areas via a commercial build, currently still holds an aspiration to extend their network reach to 1 million UK premises. But like so many other operators they’ve recently also had to scale-back their build and cut jobs, due to the pressures from high interest rates, rising build costs and a highly competitive environment.
