4th Utility’s UK Full Fibre Rollout Boosted by £25m Investment
Network builder and broadband ISP 4th Utility, which is rolling out a gigabit speed Fibre-to-the-Premises (FTTP) service to UK homes (SDU) and large residential buildings (MDU), has today been given a boost after Dutch bank NIBC Bank N.V. made a £25 million investment to help accelerate their plans.
The provider, which has in the recent past spoken of holding an ambitious plan to treble its customer base and last year said they aimed to deploy their full fibre “service [to] another 250,000 homes over the next five years” (i.e. roughly 300,000 by 2027), has already had one £25m investment from DIF Capital Partners.
However, the latest £25m investment from Netherlands-based NIBC Bank should enable 4th Utility to “accelerate growth and connect more homes than ever before“, although today’s announcement didn’t include any revised coverage targets or specific rollout plans (such details tend to follow later).
Advertisement
The operator usually partners with residential and commercial landlords and property developers to design, install and upgrade their properties with FTTP infrastructure.
Stuart Lees, Non-Executive Chairman at 4th Utility, said:
“Today’s announcement marks another significant milestone for 4th Utility, empowering us to accelerate our vision for growth and ensure even more residential homes benefit from full fibre broadband.
It’s brilliant to announce this new partnership with NIBC Bank and to have them join our journey. We’re also very grateful for our continued partnership with DIF Capital Partners – their support has been truly instrumental.
Over the last few years, we’ve established a strong, stable base and have made some huge strides in growing our business alongside our market share in the UK. But this new game-changing fund means we are poised to bring fast, affordable, future-proof broadband to lots more families and communities across the UK, whilst reinforcing our commitment to digital connectivity for all.”
Prices tend to start at just £24.99 per month (currently discounted to £15) for an unlimited 50Mbps (symmetric) package on a short 30-day term with free activation, which rises to £62.99 per month (discounted to £30) for their top 900Mbps plan.
Mark is a professional technology writer, IT consultant and computer engineer from Dorset (England), he also founded ISPreview in 1999 and enjoys analysing the latest telecoms and broadband developments. Find me on X (Twitter), Mastodon, Facebook, BlueSky, Threads.net and Linkedin.
« Government May Cut Free WiFi Wireless Internet from UK Trains
The market for MDU in cities is starting to become saturated now. Existing properties have already been retrofitted with solutions from the likes of Hyperoptic, Community Fibre or Glide.
Looking at the coverage map it appears most of their footprint is into medium sized new builds.