Truespeed receives £100 million investment to assist with fibre rollout

Charlotte Whyatt • 07 Jan 2022

The provider aims to bring speedy, reliable broadband to underserved rural areas.

Bath-based broadband provider Truespeed has an additional £100 million investment to help with the rollout of its gigabit-capable fibre network.

The capital injection comes from Aviva Investors, a division of insurance firm Aviva, who also previously gave a backing of £75 million back in 2017. 

Founded in 2014, Truespeed aims to equip the UK’s underserved rural areas with a reliable fibre-optic broadband connection. 

It recently began constructing a full fibre network across the villages of Glastonbury and Shepton Mallet with other contracts also in the pipeline for Bath and Wells. 

The provider was also chosen to rollout full-fibre networks in Devon and Somerset as part of a government funded scheme which is set to be completed by 2024. 

“We are delighted that our continuing relationship with Aviva Investors has provided this next tranche of investment,” said Truespeed CEO James Lowther. 

“This will allow us to significantly accelerate our roll-out, enabling us to connect more customers to our ultrafast, ultra-reliable full-fibre service.”

Source: UK Tech