toob set for further expansion having secured up to £87.5m of new funding
Wednesday December 22nd, 2021
toob is successfully deploying a full-fibre network across Southampton and other towns across the South of England with its aim of reaching 1m homes passed by 2027.
The new £87.5m facility from Sequoia, is in addition to the original investment made by funds advised by the Amber Infrastructure Group.
toob’s CEO Nick Parbutt said: “It is with great pleasure that we can announce we have secured this investment which will help accelerate our network deployment into 2022 and beyond. With this investment in place we will expand into more towns across the South of England, bringing the benefits of full-fibre broadband to more families, businesses and communities.”
Chris Hogg, Senior Investment Director, Amber Infrastructure said: “We are very pleased to announce Sequoia’s investment as we continue to scale the business. We look forward to Sequoia’s support through the next stage of toob’s growth.”
Charles-Olivier Douala, Vice President at Sequoia, added: “We are delighted to provide this facility to toob, which will be used to connect towns across the South of England to full-fibre broadband and improve their access to reliable and fast internet which will be critical for both households and businesses going forward”
toob was advised by Jefferies in relation to this capital raise.