Home
 » ISP News » 
Sponsored

Truespeed Start 2022 with GBP100m Boost for UK Full Fibre Rollout

Tuesday, January 4th, 2022 (8:38 am) - Score 1,656
truespeed_fttp_engineer_and_van

Alternative network ISP Truespeed, which until now has been fuelled by £75m from Aviva Investors to help build their 10Gbps capable Fibre-to-the-Premises (FTTP) broadband network in Somerset (England), has today kicked off 2022 by securing another £100m from the same investor to help accelerate their expansion plans.

So far the Bath-based provider has already extended their FTTP network to 200 rural communities (mostly in Somerset) and last year confirmed that they held an “ambitious target to reach 500,000 properties within the next five years,” although they’ve been a little coy with any details on the progress of their build (previously they expected to hit around 75,000 premises by the end of 2021).

Nevertheless, in the past year, Truespeed claims to have “doubled the size of its network” to under-served areas and extended its build to the heritage cities of Bath and Wells. And in December 2021, the firm announced the start of its network build in Glastonbury, Shepton Mallet and Street. The new funds should enable their rollout to both continue and accelerate.

James Lowther, Truespeed CEO, said:

“We are delighted that our continuing relationship with Aviva Investors has provided this next tranche of investment. This will allow us to significantly accelerate our roll-out, enabling us to connect more customers to our ultrafast, ultra-reliable full fibre service.

Credit to my predecessor Evan Wienburg and the great team here at Truespeed for the hard work undertaken to get us to this point. We are now an established and fast-growing employer in the region with a reputation for excellent staff training and personal development.

It is a privilege to lead the business as we embark on our next phase of growth.”

Sean McLachlan, Senior Director, Aviva Investors, said:

“Since our initial investment in 2017, Truespeed has continued to successfully deliver essential gigabit-capable broadband infrastructure to under-served locations across the South West of the UK.

This second tranche of funding reflects our belief that the company and its activities not only represent a sound investment, but also create significant social benefits for local communities across the country.

We look forward to continuing to support Truespeed and furthering the roll-out of its network build and award-winning service.”

The challenge for Truespeed is that they face an increasingly competitive market, which in recent years has ballooned with alternative networks that often end up fighting over some of the same areas. However, the provider has been established for much longer than many of those newer entrants and have already deployed across a fairly wide area. Now, Aviva has just given them a huge vote of financial confidence.

Leave a Comment
7 Responses
  1. Chloe says:

    Great to see although the other players mentioned will be in the same boat and Truespeed may have missed theirs

    1. Optical says:

      Haven’t seen much action by Truespeed here in Bath lately,whereas CityFibre is laying fibre at quite a rate,been busy in Weston,Larkhall,Bathampton is waiting for wayleaves to be finalised.
      Also there is a lot of Virgin & Openreach activity in Bath city centre & surrounding area.

    2. Optical says:

      Truespeed has now started on 5th January 2022, laying fibre Brassknocker Hill at Monkton Combe,Bath.

    3. Darrell Reed says:

      Still no hint of any cable laying here in BathEaston

  2. Rob says:

    They are building at pace in street and have already switched on customers in Glastonbury. They are currently building in my road and the chap on the phone the other day said they’ll start turning street on in march. Jurassic fibre are sniffing around as well but at a slower pace, if they don’t get a move on truespeed will have the area sewn up.

    Good to see this investment should see the company stay around a while yet. They just need to sort out their locked down router and security issues and they would look to be the perfect package.

  3. Nikita says:

    Glad to see more areas are covered in somerset now. Maybe one day companies like Virgin and BT will be gone with their horrible broadband service.

  4. Eci user says:

    They said they would come to Frome. Been waiting over 2 years but nothing. Too late now. Netomnia are coming to the rescue shortly thankfully.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Comments RSS Feed

Javascript must be enabled to post (most browsers do this automatically)

Privacy Notice: Please note that news comments are anonymous, which means that we do NOT require you to enter any real personal details to post a message. By clicking to submit a post you agree to storing your comment content, display name, IP, email and / or website details in our database, for as long as the post remains live.

Only the submitted name and comment will be displayed in public, while the rest will be kept private (we will never share this outside of ISPreview, regardless of whether the data is real or fake). This comment system uses submitted IP, email and website address data to spot abuse and spammers. All data is transferred via an encrypted (https secure) session.

NOTE 1: Sometimes your comment might not appear immediately due to site cache (this is cleared every few hours) or it may be caught by automated moderation / anti-spam.

NOTE 2: Comments that break our rules, spam, troll or post via known fake IP/proxy servers may be blocked or removed.
Cheapest Ultrafast ISPs
  • Gigaclear £17.00
    Speed: 200Mbps, Unlimited
    Gift: None
  • Community Fibre £20.00
    Speed: 150Mbps, Unlimited
    Gift: None
  • Virgin Media £24.00
    Speed: 108Mbps, Unlimited
    Gift: None
  • Vodafone £25.00
    Speed: 100Mbps, Unlimited
    Gift: None
  • Hyperoptic £25.00
    Speed: 150Mbps, Unlimited
    Gift: None
Large Availability | View All
Cheapest Superfast ISPs
  • Hyperoptic £17.99
    Speed 30Mbps, Unlimited
    Gift: None
  • Virgin Media £20.00
    Speed 54Mbps, Unlimited
    Gift: None
  • NOW £21.00
    Speed 36Mbps, Unlimited
    Gift: None
  • Shell Energy £21.99
    Speed 35Mbps, Unlimited
    Gift: None
  • Vodafone £22.00
    Speed 38Mbps, Unlimited
    Gift: None
Large Availability | View All
The Top 20 Category Tags
  1. FTTP (4030)
  2. BT (3135)
  3. Politics (2089)
  4. Building Digital UK (2009)
  5. Openreach (1951)
  6. FTTC (1917)
  7. Business (1811)
  8. Mobile Broadband (1590)
  9. Statistics (1493)
  10. FTTH (1370)
  11. 4G (1361)
  12. Virgin Media (1266)
  13. Ofcom Regulation (1230)
  14. Wireless Internet (1224)
  15. Fibre Optic (1223)
  16. Vodafone (920)
  17. EE (900)
  18. 5G (878)
  19. TalkTalk (817)
  20. Sky Broadband (782)
Promotion
Helpful ISP Guides and Tips
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
Sponsored

Copyright © 1999 to Present - ISPreview.co.uk - All Rights Reserved - Terms , Privacy and Cookie Policy , Links , Website Rules , Contact