Netomnia Raises £300m in Junior Debt to Boost UK FTTP Broadband Rollout
Tewkesbury-based network operator Netomnia (Brsk, Youfibre), which has so far deployed their full fibre broadband (FTTP) lines to cover 2.7 million UK premises (375,000 customers), has today announced another major funding boost by successfully completing a £300 million junior debt raise, including an additional £140 million from new and existing investors.
The funding includes £160m from existing investors I Squared Capital and Palistar Capital, originally part of the May 2025 funding announcement (here), and an additional £140m subscribed through increased commitments from I Squared Capital and Palistar Capital alongside new lenders Rand Merchant Bank (RMB) and Bain Capital. The investment builds on Netomnia’s £880m senior debt commitment, bringing total debt funding support to £1.2 billion.
The announcement also confirms that Netomnia has now achieved positive EBITDA (i.e. earnings before interest, taxes, depreciation, and amortisation). The ability to achieve a positive EBITDA can indicate that a company’s core operations are starting to become profitable (banks use this to help assess whether a company is able to pay off its debts). But this doesn’t fully consider everything (e.g. non-core financial expense), and there’s still a long road ahead to payback.
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Jeremy Chelot, Group CEO, said:
“The last funding round was oversubscribed, showing the clear demand for Netomnia from both new and existing lenders. This £140 million extension reinforces confidence in our ability to deliver at scale while staying firmly on track with our build plan and profitability targets. Our mission remains clear: connecting millions more homes and businesses with the UK’s most powerful internet.”
Robert Leon, Global Co-head of IBD and Sponsor Client Segment at RMB, said:
“Netomnia has established itself as one of the UK’s leading digital infrastructure players, combining rapid rollout with cost efficiency while driving the delivery of critical connectivity across the UK. RMB is proud to partner Netomnia and its shareholder grouping once again as part of our sponsor led strategy.”
The network operator concluded by saying that they “remain firmly on track to become the UK’s most scaled and capital-efficient retail, wholesale, and consolidation platforms“. The fact that their network coverage has increased by 140,000 premises since the last update on 23rd July 2025 is also significant and shows that they’re still deep into the roll-out phase, and during a period when many other alternative networks have stalled.
Customers of supporting ISP YouFibre typically pay from just £23.99 per month for symmetric speeds of 150Mbps and that goes up to £99.99 if you want 8Gbps (7,000Mbps average). But you can also order packages via a variety of other ISPs now, such as Brsk, Aquiss and others.
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.
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Hopefully that means they will roll out more FTTP in the Musselburgh and Midlothian area, and will speed up their rollout as well…
… and maybe finish what they started 4 years ago (PE13 3TL)…
Unfortunately Scotland is a very tricky place to deploy because some maniac decided it would be a good idea to deploy poles not on the street where they can be accessed but in people’s backyards. Also doesn’t help that they hate their neighbors so they cut each other’s internet cables
@John thankfully the housing estate I live in is not served by a single pole and is completely underground, so thats unlikely to be a problem for me, just a case of whether those ducts are serviceable or blocked/congested, but Openreach will clear them anyway in their FTTP rollout, making it easier for Netomnia
“successfully completing”
I’m surprised they know how.
Hopefully they can uplift their own patch! We’re down the road, actually in the Tewkesbury constituency (following boundary changes), but still no fibre. Openreach claim to be on the way, CityFibre have given up, so perhaps Netomnia can still beat them all? We can dream…
Can we expect them to branch out beyond homes served by poles. Around here that is their focus, and underground duct installations are ignored.
It’s a shame because there is potential in some areas currently served by no FTTP provider.
They have a limit of £300 per premises passed so if it’s going to be more expensive than that then the answer is no.
They do build underground when there are ducts
Why should they be expected to foot the bill and all the bad press for digging? If there is any good use of bduk subsidies, it would be for these expensive hard to reach homes
They’re about 60/40 between poles and underground.
I recently switched from Plusnet to YouFibre because openreach still haven’t upgraded my 2014 built brownfield housing estate from FTTC to FTTP.
Openreach were going to use poles about 18-24 months ago but realised they needed to install a new network node because all of the 67 homes have serviceable ducting in place. So when Netomnia / YouFibre offered FTTP in June I jumped at the chance. I upgraded from distance constrained 40 / 8 Mbps FTTC to 1000 / 1000 Mbps FTTP
I watched them pull the fibre through the ducts to my home via my Ring doorbell while I was at work.
@Mark Tebbutt: Was Openreach barred from using those same cuts?
Wonder when the Netomnia/Brsk merger will be actually completed, currently able to get service via Brsk (upto 2Gbs plans) but YouFibre says they don’t service my area, so can’t get the 8Gbs plan. Guess the two networks aren’t fully merged yet.
Netomnia would seem on the surface to be strategically well placed to play a part in the further consolidation of the broadband sector – both as an acquirer of other assets and as a prospective merger partner.
Probably, but the industry needs to find a way of streamlining network integration. They don’t appear to have completed the Brsk integration yet.
@Big Dave:
The acquisition happened not much more than a year ago. Mergers can take from 18 months to three years to complete.
Mergers are phased by a number of constraints, some of which may never be addressed as part of the merger. The key is to make the merger beneficial, which most mergers do not achieve – at least in the case of those driven by leverage.
annoyingly they said they where going to build to my house 2 years ago but still no build they stopped the build after doing a few streets down the road or i be getting 8GBit
Just seen this headline in The Times. Couldn’t read it because of the paywall, but from the headlines it seems to be for customers who have been on their network but move outside its footprint: https://www.thetimes.com/business-money/technology/article/rival-to-use-openreach-fibre-to-connect-15m-new-customers-c0n6r3kbb
Just trying to clarify the focus with Netomnia, since that article seems to mix “new customers” with customers moving outside of their network – two different groups.