A broadband business started just over two years ago as a partnership between two Gloucestershire firms is intent on rapid growth, having won £295 million of funding, secured thanks to Sherbornes Solicitors.
Netomnia, the Tewkesbury-based provider of full fibre broadband infrastructure, and Cheltenham internet service provider, YouFibre, secured the equity funding from DigitalBridge Investment Management.
The county partnership was founded by chief executive officer Jeremy Chelot and non-executive chairman Callum Dick and incorporated by Sherbornes in November 2019.
Dick said Sherbornes had been key to its journey to date: ‘We always find their advice clear and grounded. The team understand us and are comfortable advising on the smallest to the largest issue. We look forward to going from strength to strength, together.’
Sherbornes also helped each business secure its early funding and investment and provided business and employment law services, as well as acting as the registered office for both companies.
Simon Birks, director and head of corporate for Sherbornes, said: ‘We have worked with Callum and Jeremy for nearly 10 years on a number of different projects.
‘It is very humbling for us that as they have grown, they have chosen to continue working with Sherbornes and to rely upon our support, rather than moving to a large firm in the City.’
The Netomnia and YouFibre partnership has connected more than 130,000 premises since 2020.
This latest funding will allow it to reach its target of connecting 1,000,000 homes in the next two years and becoming one of the top three providers of fibre connectivity.