Commercial broadband supplier Glide Student & Residential is planning to expand into more university cities across the 海角视频 after agreeing a funding deal with NatWest.
Somerset-based Glide was founded in 1993 and today has more than 500,000 users and services over 7,000 locations.
The company says it will use the funding boost from NatWest 鈥 the value of which has not been disclosed 鈥 to expand its high-speed Wi-Fi connectivity infrastructure across the country. And it says it will focus particularly on serving SMEs.
Glide, whose headquarters is in Clevedon, focuses on providing services to high-density residential developments, including student accommodation and build-to-rent projects, as well as on business parks.
The company said NatWest鈥檚 backing would allow it 鈥渢o further develop its commercial offering, providing more small businesses and innovative start-ups with access to high-speed internet.鈥 It added that it was planning to focus on 鈥渂usiness customers based in remote and hard-to-reach locations鈥.
Meanwhile the company also plans to expand into 鈥渒ey university cities鈥 as well as growing services in student hubs such as Cardiff, Birmingham, Manchester and London.
Tim Pilcher, CEO of Glide said: "The team at NatWest has become a significant lender in supporting Glide鈥檚 growth strategy. Their decision to join us as a key financial partner reflects confidence in our vision and the strength of our business model.
鈥淲e look forward to building this new partnership as we continue expanding our fibre network, ensuring our customers receive the robust and seamless connectivity they rely on in today鈥檚 digital world."
Stuart Allison, relationship director at NatWest, added: "Glide has been a valued NatWest customer for many years and we are thrilled to support the team鈥檚 continued growth and infrastructure investment through this latest funding deal.
鈥淭his investment will enable Glide to expand its high-speed connectivity solutions to new markets, ensuring more businesses and residential areas benefit from their services."
In its most recent accounts, for the year to January 31, 2024, Glide reported turnover of 拢28m 鈥 up from 拢24.3m the year before. Pre-tax losses also narrowed, from 拢23.5m to 拢5.3m, while gross profits rose from 拢15.4m to 拢17.3m.
Glide is majority owned by investment funds managed by Astatine Investment Partners. In December 2024, Glide announced it had completed a debt refinancing which it said was oversubscribed. Mr Pilcer said: 鈥淭his refinancing is a significant milestone for Glide as we position ourselves for future growth. The strong interest from the banking community, resulting in an oversubscribed facility, reflects their confidence in our strategy and growth plans.鈥
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