£50m Funding Boost for Wessex Internet’s Rural UK Broadband Network

Rural-focused ISP and alternative network builder Wessex Internet, which is building a mix of full fibre (FTTP) and fixed wireless network across Southern England, has today announced that they’ve secured a £50m investment from the National Wealth Fund (formerly known as the UK Infrastructure Bank).

The provider, which also holds several state aid backed Project Gigabit build contracts (i.e. a total of four contracts worth £72m to deliver full fibre broadband to over 53,000 properties in the next four years), currently covers 40,000 premises across parts of Dorset, Hampshire, Wiltshire and Somerset with their fibre optic lines (up from 30,000 premises and 10k customers in Nov 2024).

This new funding from the NWF will enable the provider to grow their full fibre network coverage from 40,000 to 137,000 underserved rural premises (note: in 2022 their business plan expressed an aim of covering an “additional” 150,000 premises by 2027).

The NWF’s funding could also be said to reflect a recognition that whilst there are known difficulties in the sector, Wessex Internet, has a “clear strategy” and is “achieving strong commercial results” (their accounts do look healthier than those of quite a few other altnets).

Hector Gibson Fleming, CEO of Wessex Internet, said:

“We are delighted with the National Wealth Fund’s decision to support our ongoing growth story. This investment will support the scale and pace of Wessex Internet’s rural network build and enables us to continue delivering high-quality digital infrastructure in areas that have historically faced limited connectivity.

As many broadband providers scale back, we have continued to grow by focusing on rural, hard-to-reach areas that others overlook. As a family-owned business, our focus has always been on ensuring that these regions can access reliable full fibre broadband, which supports local economic development and long-term community needs. Our success is rooted in that purpose.

Everyone in the business is proud of the huge impact that Wessex Internet has had on the communities we serve – connecting families, strengthening businesses and empowering local organisations.”

Ian Brown, Head of Banking & Investments at the National Wealth Fund, said:

“Every home and business in the UK deserves access to fast, affordable and reliable broadband. Our financing for Wessex Internet will ensure that under-served rural communities will benefit from the continued full-fibre rollout. These are areas where connecting homes and businesses to fast fibre will make the greatest difference, helping to improve connectivity and support local economies.”

Prices for their full fibre packages start at £29 per month for a 100Mbps (15Mbps upload) tier on a 12-month term, but this only comes with a meagre 100GB data allowance (£44 for unlimited), and you’ll have to pay £49 (one-off) for activation. By comparison, their top unlimited usage plan will give 900Mbps (450Mbps upload) for £79 per month. Not cheap, but then they’re often the only FTTP choice in a lot of their locations (remote rural areas cost more to serve).