NatWest Funding to Help Glide Expand UK High-Speed Wi-Fi Network

Clevedon-based business, student and residential ISP Glide Group, which is separately still busy expanding their full fibre broadband network, has today announced that a recent funding boost from banking giant NatWest has enabled it to start preparing for an “ambitious expansion” of its high-speed Wi-Fi connectivity infrastructure too.

The investment will focus on delivering new connectivity to those living in high density developments, such as student accommodation, and purpose-built rental residences, as well as SMEs (small and medium sized businesses) based in remote business parks. This will see them building beyond their existing services in student hubs, such as Cardiff, Birmingham, Manchester and London.

NatWest’s backing will also allow Glide to further develop its commercial offering, providing more small businesses and start-ups with access to high-speed broadband, although no details of this were provided. The firm said they’re “particularly committed to supporting business customers based in remote and hard-to-reach locations“.

The announcement comes several months after Glide announced that it had successfully completed the refinancing of its existing debt arrangements (here), which also included a new capex (capital expenditure) facility to support growth.

Tim Pilcher, CEO of Glide, said:

“The team at NatWest has become a significant lender in supporting Glide’s growth strategy. Their decision to join us as a key financial partner reflects confidence in our vision and the strength of our business model.

We look forward to building this new partnership as we continue expanding our fibre network, ensuring our customers receive the robust and seamless connectivity they rely on in today’s digital world.”

Stuart Allison, Relationship Director at NatWest, said:

“We’re committed to providing support for businesses of all sizes and whatever stage of their journey. Glide has been a valued NatWest customer for many years and we are thrilled to support the team’s continued growth and infrastructure investment through this latest funding deal.

This investment will enable Glide to expand its high-speed connectivity solutions to new markets, ensuring more businesses and residential areas benefit from their services.”

Glide’s most recent company accounts to the end of January 2024 (here) noted how their revenues had grown by 15% in the year to £27.9m and gross profit grew to £17.3m (up from £15.4m). The provider also onboarded 12,000 new student beds in the year, meaning they now serve a total of over 250,000 students with internet connectivity. Glide also added 7,000 new business units to their coverage and invested over £20.9m into their network (up from £19.6m in the previous year).