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According to a report from ISPreview, UK ISP Gigabit IQ has opened a crowdfunding round seeking £270,000 to accelerate its expansion.
The company carries a pre-money valuation of £5 million and is offering 5.12% equity to new investors, as seen on the campaign page.
At the time of writing, the company has aready seen £243,650 committed by 40 investors.
Gigabit IQ is a retail ISP combining full-fibre connectivity with safety and device-protection services, such as FamilyGuard+ and CyberGuard+.
The company says it has an addressable reach of 1.5 million homes via various wholesale partners, including Full Fibre and F&W Networks’ networks.
The company first announced it would seek to raise cash via crowdfunding in October last year, saying the strategy reflected their community-centre approach to broadband. At that time, the company was aiming to raise £500,000.
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