Independent ISP Trooli has secured a £67.5m senior debt facility with the support of the Connecting Europe Broadband Fund (CEBF) team. The funds will be used to expand the reach of the company’s FTTP network as it looks to reach one million premises by 2024, up from 100,000 premises today.
Izzet Guney, managing director, Cube Infrastructure Managers (Cube IM), which manages CEBF, said, “Trooli has established an impressive track record over the past three years and is clearly a company that is growing at a very rapid pace. It is supplying vital infrastructure that has the potential to benefit millions of homes and businesses. We wish Trooli success and are ready to continue supporting it on its future journey.”
Trooli has a growing customer base in Kent, East Sussex and Berkshire, and has just launched in East Anglia where its network will start going live this autumn.
Ashley Atkins, CFO, Trooli (pictured), added, “We are committed to growing our network and meeting the need for really fast, reliable internet connections, especially in underserved rural areas. Securing this level of funding not only underpins our ambitious growth plans but is also a vote of confidence in Trooli as a business and the product we offer.
“Demand for our full fibre broadband has been extremely strong over the past year and we expect that to continue into the future. Despite us running a small, targeted process, the offer has been many times oversubscribed. This fresh investment clearly demonstrates the banking community shares our vision.”