A full-fibre broadband provider has received a £25m investment from a Dutch bank.
Greater Manchester-based 4th Utility has securing the funding from NIBC Bank.
The company was established in 2017 and employs over 50 people, including former England and Sale Sharks winger Mark Cueto.
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Run by chief executive Tony Hughes, the business previously secured a £25m investment in September 2020.
In an interview with BusinessLive in June last year, Mr Hughes outlined his plans for the company to achieve a valuation of £1bn.
4th Utility partners with residential and commercial landlords and property developers to design, install and upgrade their properties with FTTP infrastructure.
Non-executive chairman Stuart Lees said: "Today’s announcement marks another significant milestone for 4th Utility, empowering us to accelerate our vision for growth and ensure even more residential homes benefit from full fibre broadband.
"It's brilliant to announce this new partnership with NIBC Bank and to have them join our journey.
"We're also very grateful for our continued partnership with DIF Capital Partners – their support has been truly instrumental.
"Over the last few years, we've established a strong, stable base and have made some huge strides in growing our business alongside our market share in the UK.
"But this new game- changing fund means we are poised to bring fast, affordable, future-proof broadband to lots more families and communities across the UK, whilst reinforcing our commitment to digital connectivity for all."
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