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Internet service provider Giganet announces acceleration of its growth plans following £250 million funding

By Karolina Lasinska
21 May 2021
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Internet service provider (ISP), Giganet, has announced the acceleration of its growth plans to deliver full-fibre connectivity across multiple platforms, following the acquisition of its parent company M12 Solutions, and a £250 million funding injection from Fern Trading Limited, advised by Octopus Investments.

Funding injection will allow Giganet to offer high speed, full fibre connectivity to over 2 million homes and businesses in the UK

The investment will allow Giganet to offer high speed, full-fibre connectivity to over 2 million homes and businesses in the UK, as the provider significantly increases its existing offering on CityFibre and Openreach fibre and begins construction of its own network.

Work has already begun in Hampshire, Wiltshire, Dorset and West Sussex, with more locations to follow, focusing on connecting local and rural communities and offering homes and businesses access to honest, reliable and cost-effective full fibre broadband.

Over 200 new jobs will be created in the regions that Giganet is building in, providing significant opportunities to grow local economies. Founders Andrew and Matthew Skipsey will join newly appointed CEO, Jarlath Finnegan and a strong senior leadership team to deliver the growth plans.

CEO Finnegan commented: “Together with Fern Trading, Giganet now has the resources to quickly connect lots more customers across the UK. As an experienced provider, it is an exciting time for Giganet as we look to become the best performing ISP in the region, bringing people together like never before and creating sustainable high-tech job opportunities for local communities.”

Rob Skinner from Octopus Investments added: “We’re really excited about Giganet’s plans to bring full-fibre connectivity to customers in need of an upgrade from slow copper broadband. Working with Openreach and CityFibre, as well as building its own fibre network in underserved areas, Giganet will be bringing a broadband service with a reputation for excellent customer service to a huge number of homes and businesses. We look forward to helping Giganet become one of the UK’s leading full fibre ISPs.

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