Zzoomm goes live in Hereford following completion of latest financing round

7 Oct 2021

UK-based full fibre provider Zzoom has announced that its fibre-to-the-premises (FTTP) network – which offers residential users symmetrical speeds of up to 2Gbps – is now live in the city of Hereford. With the operator noting that initial locations where its infrastructure is available include Moorfield Street, Portland Street, Canonmoor Street and Brunel Court, it has said it ultimately expects 32,000 premises in the city to be covered when its rollout is completed, although it stopped short of offering a timeframe for such a development.

The network expansion announcement comes in the wake of the company revealing earlier this week that it completed another financing round in September 2021, from a consortium of international banks led by ING Bank, with Hamburg Commercial Bank and Kommunalkredit Austria. The investment comprises a GBP100 million (USD136 million) debt facility which Zzoomm said will allow it to accelerate its network rollout, with further expansion across the towns and cities of Hereford, Thirsk, Sandhurst, Crowthorne, Cannock, Crewe and Northallerton already underway. The company is aiming to cover one million premises by 2025.

Commenting on the financing round, Zzoomm CEO Matthew Hare said’: ‘This new investment provides substantial additional capital to drive our network expansion plans forward at full speed. Our goal is to deliver brilliant broadband to the homes and business that we serve. With the support of our new banking partners, we can go further, faster, and bring Zzoomm Full Fibre happiness to many more people over the coming weeks, months and years.’

United Kingdom, Zzoomm