7 March 2024: Soho Square Capital LLP (“Soho Square”), an investment firm focused on financing established and growing UK and European SMEs is pleased to confirm its portfolio company Netomnia, one of the fastest growing altnets in the UK, along with ISP sister company YouFibre, has raised a further £147.5 million, increasing its committed debt financing to £377.5 million, to support the continued growth of the business. Soho Square was the original backer of the business in 2020 and provided further follow on funding in 2022 alongside DigitalBridge and Advencap.
Walid Fakhry, Co-Managing Partner at Soho Square, commented:
“Netomnia continues to grow apace. Today’s successful round of funding enables Netomnia to accelerate its network rollout to meet increasing demand for full fibre broadband across the UK. Soho Square partners with growing businesses like Netomnia where we are fully aligned with management who remain significant owners of their business. Having originally backed the business in 2020, providing additional funding in 2022, we are thrilled that Netomnia has firmly established itself as one of the UK's leading fibre providers.”
NETOMNIA & YOUFIBRE ANNOUNCEMENT:
Netomnia, one of the fastest growing altnets in the UK, along with ISP sister company YouFibre, has raised a further £147.5 million, increasing its committed debt financing to £377.5 million.
Netomnia has successfully completed an additional fundraise of £147.5 million in its accordion facility welcoming three new lenders: Barclays, Alpha Bank and Nord/LB, with support from all incumbent lenders.
The backing will see Netomnia continue its rapid ascent to become one of the UK's leading fibre providers. The company, known for its speedy network deployment, innovation, and efficient use of capital, has now passed 850,000 premises, with YouFibre welcoming 80,000 customers.
Supported by Advencap, DigitalBridge and Soho Square, Netomnia and YouFibre have raised £795.5m (over 1bn USD) in just three years.
Jeremy Chelot, CEO at Netomnia and YouFibre, says:
"We are very pleased to welcome three new lenders to Netomnia and YouFibre with support from our existing lenders. This backing demonstrates the strength of Netomnia’s deployment plans in the market and we’re delighted they have chosen to support the continued acceleration of our businesses.
“Our success is a testament to the dedication and hard work of our team, as well as the unwavering support of our investors and partners. With this latest round of funding, we are well-positioned to accelerate our network deployment efforts and continue delivering best-in-class internet services and customer experience."
If you would like to discuss future investment opportunities, please contact:
James Smallridge
+44 (0)79714 75582
Media:
Kepler Communications
Charlotte Balbirnie Caroline Villiers
+44 (0)7989 528421 +44 (0)7808 585184
CBalbirnie@keplercomms.com CVilliers@keplercomms.com
About Soho Square Capital
Soho Square Capital is an investment firm focused on providing flexible capital solutions, typically in the form of senior or preferred capital with minority equity stakes, to established and growing UK and European SMEs. Headquartered in London, the firm is led by a highly experienced team that has been investing together for over 15 years, through many economic cycles and have the expertise and flexibility to invest up to £40 million in any given transaction, across the capital structure, from senior debt to equity. The team works closely with business owners and management teams to structure innovative, bespoke financing solutions and offer enhanced portfolio company support.
About Netomnia
Founded in 2019, Netomnia is developing full-fibre infrastructure, utilising innovative technology and agile deployment, to bring ultrafast broadband to under-served towns and cities across the UK.
Netomnia makes wholesale connectivity available to service providers, including YouFibre, which has been delivering the UK’s fastest broadband packages of up to 10Gbps to customers.
About YouFibre
Founded in 2019, we’re on a mission to bring ultrafast internet to our customers. Guided by the principles of flawless customer support, fair contracts, and affordable pricing, YouFibre brings full fibre broadband to UK homes and offices, creating the best internet experience possible.
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