Wessex Internet fired up with £50 million boost

A family-owned broadband provider has secured £50 million support to roll out rural growth plans.

Wessex Internet has been backed by the National Wealth Fund to expand coverage to nearly 140,000 hard-to-reach homes and businesses across the South West.

The firm is also set to receive a £72 million subsidy from the Government's Project Gigabit through four contracts with Building Digital UK.

Wessex Internet was founded in 2010 and has grown to cover Dorset, Somerset, Wiltshire and Hampshire.

Hector Gibson Fleming, Wessex Internet chief executive, said the business is “delighted” with its National Wealth Fund support.

He added: “This investment will support the scale and pace of our rural network build and enables us to continue delivering high-quality digital infrastructure in areas that have historically faced limited connectivity. 

“As many broadband providers scale back, we have continued to grow.”

Ian Brown, National Wealth Fund’s head of banking and investments, added: “Our financing will ensure under-served rural communities benefit from the continued full-fibre roll out.

“These are areas where connecting homes and businesses to fast fibre will make the greatest difference, helping improve connectivity and support local economies.” 

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.