This includes £40 million from AlphaReal and £10 million from the Scottish National Investment Bank.
Scotland’s Deputy First Minister, Kate Forbes, recently announced the new capital secured, as the company prepares for a significant expansion of its fibre network.
Highland Broadband has already connected 50% of rural premises in the Scottish Highlands to full fibre infrastructure. The new funding ensures that the company can continue expanding its fibre network across rural Scotland, aiming to reach over 150 small towns and villages in the coming year.
Brad Bauman, Head of Alternative Credit at AlphaReal, said: “We are delighted to provide this initial facility to Highland Broadband. We have extensive experience in providing bespoke lending solutions across the debt spectrum, and as we expand into digital infrastructure, we look forward to working with Gavin and his team at Highland Broadband.”
Kate Forbes, Scotland’s Deputy First Minister said: “This is a significant success story for Scotland. The roll-out of Highland Broadband’s network has made a real difference to people and businesses in rural areas, supporting jobs and boosting economic growth. I am delighted to see substantial new investment flowing into the company and the rural communities it serves, including a further £10 million from the Scottish National Investment Bank. This takes the Bank’s total investment to £60 million, which has helped Highland Broadband raise an additional £40 million of private capital.”
Gavin Rodgers, CEO of Highland Broadband, said: “This injection of £50 million of new capital means we have the funding as well as the capability to continue network expansion throughout rural Scotland. We are delighted to secure the backing of AlphaReal as a new funder and also welcome the ongoing support of the Scottish National Investment Bank.”
