Alternative network and UK ISP G.Network, which is building a Multi-Gigabit capable Fibre-to-the-Premises (FTTP) broadband network across parts of London (here), has today announced that they’ve agreed with USS, their long term equity investor, access to additional funding of £85 million to support their “next phase of growth“.
The provider, which is estimated to be live across around 250,000 to 300,000 premises in London, last received a funding boost from USS almost a year ago when the same investor committed “up to an additional” £150m (here) to help support their continued operations and expansion (the build programme resumed, after a long pause and some job cuts, in February 2024 – here).
G.Network claims that their “business is performing well and successfully executing against its strategic plan of creating a better-connected London, delivering improvements in revenues, productivity and customer service“. For example, the operator highlights how they’re driving blended ARPU towards £50 due to the “dense mix of affluent consumers and businesses served” by their FTTP network in central London.
The operator next plans to develop their B2B retail and wholesale business, while also building more fibre network with their Strategic Partners, such as Boldyn Networks. This network development will include fibre infrastructure to support small cells for mobile operators, CCTV and other smart city applications.
On top of that, they will also continue to make switching to fibre easy for customers by partnering with landlords and developers to pre-wire flats and office blocks across the network, where possible.
Kevin Murphy, CEO, said:
“It is an exciting time to be at G.Network as we continue to build momentum in terms of our operational and financial performance. Our vision to build a better-connected London is coming to fruition and would not have been possible without the ongoing investment and support of USS, who, along with the whole team, are looking to G.Network’s future with confidence”.
Residential customers of G.Network typically pay from £19 per month for a 150Mbps (50Mbps upload) service on a 24-month term with free installation (£24 thereafter), which rises to £30 for their top 900Mbps plan (£35 thereafter). Shorter 12 and 1 month contracts are also available, albeit at extra cost, and a symmetric speed 900Mbps plan also exists.