Trooli announced today that it has secured a £5m senior facility agreement with NatWest Bank to further its expansion throughout Kent.
This new investment will help fund Trooli’s operating costs as the brand grows over the next few years and complements the €30m growth investment round secured from European investors in May 2019. This earlier investment is already being used in funding Trooli’s ambitious and high-paced network infrastructure growth plans.
Trooli is now focussed on delivering the initial phase of its business plan, growing its FTTP network coverage from 10,000 premises passed to 150,000 premises passed over the next 30 months. This is the first step towards the target of passing 500,000 premises within five years.
Ashley Atkins, CFO for Trooli, said: “We’re extremely passionate about rolling out our Full Fibre network to as many communities in Kent as possible and providing the broadband speeds they deserve.
“Demonstrating the ability to deliver against our business plan was a critical factor in gaining the confidence of the NatWest Structured Finance team. It is testament to the hard work of the whole Trooli team that we have secured this investment at such an early stage in the company’s growth plan.
“I would also like to thank Acuity Partners for their support through this process.”
Ian Mason, Relationship Director for NatWest, said: “At NatWest, we are passionate about helping British businesses to prosper, and in turn to provide our regional communities with greater connectivity.
“With Trooli, we have not only found a business that is in a great position to succeed but one that will provide a real benefit to residents and business owners in Kent.
“We look forward to working with Trooli to help them deliver their business plan, whilst connecting thousands of new customers across Kent to Full Fibre broadband.”
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