Manchester high-speed broadband provider 4th Utility has announced a “game changing £25m investment from Dutch bank NIBC Bank.
The provider revealed ambitious plans to almost double headcount and expand its customer base to at least 250,000 new premises when it celebrated its fifth birthday last year https://www.prolificnorth.co.uk/news/manchester-news/2022/10/broadband-firm-4th-utility-celebrates-five-years-new-jobs. It previously landed a similar, £25m investment with DIF Capital Partners in 2020, which has helped shape its growth to date.
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.”
Hale-based 4th Utility partners with residential and commercial landlords and property developers to design, install and upgrade their properties with FTTP infrastructure.
