Brillband has revealed plans for national and international expansion, after securing an additional £475,000 investment.
The money - including backing from investors in Australia and Norway - takes overall investment in the Glasgow-founded broadband start-up to more than £1m in nine months.
The latest round values the business at £5.4m. It launched across Glasgow and Renfrewshire in November last year, and has since expanded across Scotland with new customer bases in Edinburgh, Dundee, Aberdeen, Stirling and Inverness.
The new money will be used to develop Brillband’s technology - including the expansion of its software development team - as well as growth in its marketing and customer experience divisions, with the internet service provider (ISP) primed to expand across the UK in early 2024, before setting its sights on Europe the following year.
Brillband's model revolves around a single rate for the fastest speed for the duration of a customer’s contract, with no mid-contract price hikes – and is available exclusively on the Cityfibre network.
Cityfibre is already available to more than 2.2 million UK homes, with plans to grow that number to eight million homes across 285 cities, towns, and villages across the UK by the end of 2025.
Brillband’s founder and chief executive Duncan Di Biase commented: “This investment opens the door to our next phase of growth across Scotland, with expansion across the UK next and then into Europe by 2025.
“Our investors believe in the brand we have built, our purpose, the people behind it and the potential for Brillband.
“Our software-based model creates agility competitors reliant on traditional copper infrastructure do not have – legacy networks and infrastructure mean the big providers would need to invest hundreds of millions to move as fast and as far as we can.
“2023 will be a huge year for Brillband, and we have major announcements on the horizon.”
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