toob gains neat £90MN funding for further full-fibre expansion
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Joseph O'Halloran
| 30 December 2021
South of England full-fibre broadband provider toob, which claims to be on a mission to transform the internet experience by opening up its network to more than a million premises, has secured up to £87.5 m of investment from Sequoia Economic Infrastructure Income Fund.
toob 30Dec2021
toob says that it is seeking to play an active role in the communities it operates in, with support to local charities and community organisations and as a Premier Partner for Southampton’s UK City of Culture bid for 2025.

“It is with great pleasure that we can announce we have secured this investment which will help accelerate our network deployment into 2022 and beyond,” said CEO Nick Parbutt (pictured). “With this investment in place we will expand into more towns across the South of England, bringing the benefits of full-fibre to more families, businesses and communities.”

At present toob is deploying a full-fibre network across Southampton and other towns across the South of England and the facility from Sequoia, a FTSE 250 investment trust that specialises in economic infrastructure debt, comes in in addition to an original investment made by funds advised by the Amber Infrastructure Group. Amber’s core business focuses on sourcing, developing, advising, investing in and managing infrastructure assets across the public, transport, energy, digital and demographic infrastructure sectors.

Commenting on the investment, senior investment director Chris Hogg observed: “We are very pleased to announce Sequoia’s investment as we continue to scale the business. We look forward to Sequoia’s support through the next stage of toob’s growth.”