{"id":44082,"date":"2025-12-03T08:32:46","date_gmt":"2025-12-03T08:32:46","guid":{"rendered":"https:\/\/www.ispreview.co.uk\/?p=44082"},"modified":"2025-12-03T08:37:11","modified_gmt":"2025-12-03T08:37:11","slug":"rural-uk-broadband-altnet-gigaclear-secures-80m-funding-from-banks","status":"publish","type":"post","link":"https:\/\/www.ispreview.co.uk\/index.php\/2025\/12\/rural-uk-broadband-altnet-gigaclear-secures-80m-funding-from-banks.html","title":{"rendered":"Rural UK Broadband Altnet Gigaclear Secures \u00a380m Funding from Banks"},"content":{"rendered":"<p>Abingdon-based broadband ISP <a href=\"https:\/\/www.ispreview.co.uk\/index.php\/go\/gigaclear\" rel=\"nofollow\" target=\"_blank\">Gigaclear<\/a>, which has built a full fibre (<a href=\"https:\/\/www.ispreview.co.uk\/index.php\/link\/fttp\">FTTP<\/a>) network across 612,000 premises in rural parts of England and is home to c.160,000 customers, has today announced that they&#8217;ve secured &#8220;<em>at least<\/em>&#8221; \u00a380m in new funding from its consortium of existing banks. The provider now claims to be &#8220;<em>fully funded to deliver its plans<\/em>&#8220;.<!--more--><\/p>\n<p>The provider, which is this month celebrating its 15th birthday after taking on the huge challenge of trying to expand <a href=\"https:\/\/www.ispreview.co.uk\/index.php\/link\/fttp\">FTTP<\/a> across rural areas via a commercial build, currently still holds an aspiration to extend their network reach to 1 million UK premises. But like so many other operators they\u2019ve recently also had to scale-back their build and cut jobs, due to the pressures from high interest rates, rising build costs and a highly competitive environment (<a href=\"https:\/\/www.ispreview.co.uk\/index.php\/2025\/07\/rural-uk-full-fibre-broadband-isp-gigaclear-sees-more-job-cuts.html\">here<\/a> and <a href=\"https:\/\/www.ispreview.co.uk\/index.php\/2024\/09\/gigaclear-to-cut-150-jobs-as-uk-rural-full-fibre-broadband-build-slows.html\">here<\/a>).<\/p>\n<div class=\"bq2\"><strong>NOTE:<\/strong> <a class=\"shortlink shortlink-40\" title=\"gigaclear\" href=\"https:\/\/www.ispreview.co.uk\/index.php\/go\/gigaclear\" target=\"_blank\" rel=\"nofollow noopener\">Gigaclear<\/a> is principally owned by <strong>Infracapital<\/strong>, together with <strong>Equitix<\/strong> and <strong>Railpen<\/strong>. The company previously had investment commitments estimated to be worth up to around \u00a31.1bn (<a href=\"https:\/\/www.ispreview.co.uk\/index.php\/2023\/06\/gigaclear-raise-full-fibre-target-to-1-million-uk-premises-on-funding-boost.html\">here<\/a>) and in late 2023 secured a \u00a31.5bn debt facility (<a href=\"https:\/\/www.ispreview.co.uk\/index.php\/2023\/12\/rural-uk-broadband-isp-gigaclear-secure-1-5bn-debt-facility.html\">here<\/a>). The provider holds several Project Gigabit build contracts in Oxfordshire (<a href=\"https:\/\/www.ispreview.co.uk\/index.php\/2023\/11\/gigabit-broadband-contracts-awarded-for-oxfordshire-and-staffordshire-uk.html\">here<\/a>) and East Gloucestershire (<a href=\"https:\/\/www.ispreview.co.uk\/index.php\/2024\/02\/gigaclear-win-gbp16m-east-gloucestershire-uk-gigabit-broadband-rollout.html\">here<\/a>).<\/div>\n<p>Suffice to say that funding has recently become somewhat of a hot topic for <a href=\"https:\/\/www.ispreview.co.uk\/index.php\/go\/gigaclear\" rel=\"nofollow\" target=\"_blank\">Gigaclear<\/a>, which was in the news last month over reports that they had begun hunting for a buyer (<a href=\"https:\/\/www.ispreview.co.uk\/index.php\/2025\/11\/rural-uk-broadband-altnet-gigaclear-hunts-buyer-to-tackle-1bn-debt.html\">here<\/a>). But in the meantime it appears as if the provider&#8217;s existing banks have agreed to pump &#8220;<em>at least<\/em>&#8221; <strong>\u00a380m of new funding<\/strong> into the company, although exact details of the deal were not included in the announcement.<\/p>\n<p><a href=\"https:\/\/www.ispreview.co.uk\/index.php\/go\/gigaclear\" rel=\"nofollow\" target=\"_blank\">Gigaclear<\/a>\u2019s main focus today is now on delivering their publicly subsidised <strong>Project Gigabit<\/strong> contracts (i.e. \u201c<em>ultra rural areas<\/em>\u201c) for the government, while also trying to boost customer take-up through a stronger focus on commercialisation of the network they\u2019ve already built. But at the same time they\u2019ve still got a \u00a31bn debt pile to manage.<\/p>\n<blockquote class=\"bq1\"><p><strong>Nathan Rundle, CEO of Gigaclear, said:<\/strong><\/p>\n<p>\u201cFor 15 years, Gigaclear has been committed to one clear mission: ensuring rural communities are no longer left behind. From our earliest builds to our rapidly expanding customer base, every milestone has been driven by that goal. As we look ahead, this new funding gives us a robust platform to continue expanding our network and deliver unparalleled connectivity to even more rural homes and businesses as well as further supporting the evolution of the business to achieve becoming cash flow positive.<\/p>\n<p>There\u2019s still more work to do to close the digital divide but combined with our achievement of EBITDA positivity earlier this year and strong customer growth, this funding reflects a business that is financially secure, operationally robust and focused on sustainable long-term delivery.\u201d<\/p><\/blockquote>\n<p>In 2025, the company says they expanded their network via Project Gigabit, connecting more than 30,000 new premises &#8211; putting them on track to achieve a 28% penetration rate. Looking ahead, Gigaclear now says they will continue expanding their &#8220;<em>customer base, investing in operational innovation and enhancing the customer experience through technologies such as AI-powered installation tools<\/em>&#8220;.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Abingdon-based broadband ISP Gigaclear, which has built a full fibre (FTTP) network across 612,000 premises in rural parts of England and is home to c.160,000 customers, has today announced that they&#8217;ve secured &#8220;at least&#8221; \u00a380m in new funding from its consortium of existing banks. The provider now claims to be &#8220;fully funded to deliver its [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":27095,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[1],"tags":[472,56,416],"class_list":["post-44082","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uk_isp_news","tag-business","tag-fttp","tag-gigaclear"],"share_on_mastodon":{"url":"https:\/\/mastodon.social\/@ispreview\/115654713022755681","error":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Rural UK Broadband Altnet Gigaclear Secures \u00a380m Funding from Banks - ISPreview UK<\/title>\n<meta name=\"description\" content=\"Abingdon-based broadband ISP Gigaclear, which has built a full fibre (FTTP) network across 612,000 premises in rural parts of England and is home to\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ispreview.co.uk\/index.php\/2025\/12\/rural-uk-broadband-altnet-gigaclear-secures-80m-funding-from-banks.html\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rural UK Broadband Altnet Gigaclear Secures \u00a380m Funding from Banks - 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