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Alternative network operator Netomnia (Brsk and ISP YouFibre), which has now expanded their 10Gbps capable Fibre-to-the-Premises (FTTP) broadband network to cover 2.4 million UK premises RFS (up from 2.2m end of Feb 2025) and connected 310,000 customers (up from 270k), has boosted their coverage target to 5 million premises and raised £160m in debt funding.
Just to recap. Netomnia is currently in the process of completing their merger with Brsk (here) and had previously been aiming to expand their full fibre (FTTP) broadband network to reach 3 million premises by the end of 2025 (inc. 1 million customers by 2028). The service is currently available across parts of over 90 UK cities and towns.
The good news today is that the network operator has raised another £160 million in junior debt from I Squared Capital and Palistar Capital. This investment builds on an £880 million senior debt commitment, bringing total funding support to £1.04 billion.
The move helps to support Netomnia’s current annual build rate of 1 million premises, which also means that they’re now increasing their target from 3 million premises serviceable by the end of 2025 to 5 million by the end of 2027. The group is also expected to achieve positive EBITDA in 2025.
Jeremy Chelot, Group CEO of Netomnia, YouFibre, and brsk, said:
“This £160 million junior debt facility represents resounding market confidence in our execution and financial discipline. As we connect thousands more homes and businesses with the UK’s most powerful internet, this funding ensures we can sustain our growth trajectory while delivering strong, long-term value.”
Mohammed El Gazzar, Senior Partner, I Squared Capital, said:
“Netomnia has firmly established itself as one of the UK’s leading alternative broadband providers through a unique combination of rapid deployment, operational excellence, and cost efficiency. With one of the lowest build costs in the market, a highly experienced management team, and strong backing from premier sponsors, Netomnia is well positioned to continue its impressive growth trajectory. As part of our European strategy, we are pleased to support the company’s next phase of expansion, helping extend reliable, affordable fibre connectivity to millions more homes across the UK.”
Breaking news.. more to follow..