A SOUTHWEST-BASED broadband company has attained over £30m in funding from a UK bank.

Wessex Internet and its shareholders are excited to announce the major funding investment that will help with the business's long-term growth plans.

By partnering with Triodos Bank, an ethical group, the company has managed to secure a £35m investment.

Wessex Internet was also congratulated by UK Fibre Awards as ‘UK Fibre Provider of the Year’ in 2023 and ‘Best Rural Provider’ category for the second year running in 2022 and 2023.

Hector Gibson Fleming, Wessex Internet CEO said: “As a company, we remain committed to our vision to deliver full fibre broadband to underserved rural communities across the Southwest.

“This additional capital investment and senior debt facility enable us to continue to rapidly scale our operations and accelerate our rollout across Dorset, Somerset, Wiltshire, and Hampshire.

“We are delighted to partner with Triodos, a bank that focuses on delivering positive change and shares our vision of removing the digital divide for our local communities.

Alex Anderson, Investment Director at abrdn Core Infrastructure, a global investment company and one of the shareholders, said: “Since September 2022, we have worked alongside and supported Wessex Internet in expanding their network across rural parts of Southwest England and are delighted to extend the partnership to include Triodos.

“Securing this further capital investment is a huge testament to the endless energy of the team at Wessex Internet and their capability to manage and deliver networks in the hardest-to-reach areas, building on an impressive existing footprint and under a number of exclusive contracts.

Amandine Tetot, Head of Project Finance at Triodos Bank UK, said: “Wessex Internet has proven its model and successfully installed high-speed internet connections to some of the most rural properties in Dorset, Wiltshire, Hampshire and Somerset.

“We’re pleased to provide finance to accelerate its expansion and roll-out strategy, allowing more businesses and households to cross the digital divide.”