4th Utility Funding Boost
4th Utility secures £25million funding from DIF Capital Partners as it prepares to bring ultra-fibre broadband to more UK homes.
15:15 25 August 2020
4th Utility, a Greater Manchester-based fibre broadband provider, has recently secured £25million in investment from DIF Capital Partners as it prepares to scale up the rollout of commercial-grade fibre broadband to more residential properties in the United Kingdom.
The company, which has its own mile fibre optic network, allows new customers to be online within 60 seconds of signing up for the service. It partners with residential and commercial landlords, housebuilders and property developers to design, install and upgrade their properties with FTT infrastructure. The firm's current partners include David Wilson Homes, Crest Nicholson, The McGoff Group and Fortis Group.
4th Utility CEO Tony Hughes said: "The partnership with DIF Capital Partners is a significant milestone for our business and gives us a fantastic platform to deliver ultrafast internet access to many more properties across the UK.
"The team at DIF share our desire to invest in high-quality fibre infrastructure and our ambition is to use this funding to become one of the leading broadband providers in the UK, ensuring thousands of new customers can benefit from full fibre connectivity."
William Jansonius, Head of DIF Capital Partners, said: "We are pleased to bring our experience in digital infrastructure to support 4th Utility and their management team in delivering FTTP infrastructure investment to underserved properties in the UK."