An independent broadband provider that specialises in connecting rural areas has won a £50m investment to help it to connect 140,000 hard-to-reach homes and businesses.
Wessex Internet says the investment from the National Wealth Fund (NWF) is “one of the most significant commitments to rural broadband infrastructure announced this year.”
Dorset's Wessex Internet was founded in 2010 to specialise in rural broadband delivery and today serves communities across Dorset, Somerset, Wiltshire, and Hampshire. The company works with farmers and landowners to lay cables under fields, reducing the need for roadworks and the associated disruption.
In 2022 it was the first provider to win a Project Gigabit contract, through the Government’s Building Digital Ƶ (BDƵ) programme, to connect hard-to-reach communities.
The company says the NWF capital combined with the £72m awarded from BDƵ will allow it to grow its network from 40,000 to approximately 137,000 rural premises.
Hector Gibson Fleming, CEO of Wessex Internet, said: “We are delighted with the National Wealth Fund’s decision to support our ongoing growth story. This investment will support the scale and pace of Wessex Internet’s 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 by focusing on rural, hard-to-reach areas that others overlook. As a family-owned business, our focus has always been on ensuring that these regions can access reliable full fibre broadband, which supports local economic development and long-term community needs. Our success is rooted in that purpose.
“Everyone in the business is proud of the huge impact that Wessex Internet has had on the communities we serve – connecting families, strengthening businesses and empowering local organisations.”
Ian Brown, head of banking and investments at the National Wealth Fund, said: “Every home and business in the Ƶ deserves access to fast, affordable and reliable broadband. Our financing for Wessex Internet will ensure that under-served rural communities will benefit from the continued full-fibre rollout. These are areas where connecting homes and businesses to fast fibre will make the greatest difference, helping to improve connectivity and support local economies.”
Wessex Internet also has the backing of its existing major investors, including investment giant Aberdeen.
Alex Anderson, investment director at Aberdeen Investments’ economic infrastructure team, said: “We're delighted to see Wessex Internet secure this £50 million from the National Wealth Fund investment, which validates the strength of their approach to rural connectivity.
"As an existing investor committed to delivering reliable infrastructure to local communities, this funding represents a significant boost for our shared mission. We look forward to continuing our work alongside Wessex Internet's management team, leveraging our experience in the infrastructure sector to deliver this next phase of growth to historically under-served rural areas.”
