Lightning Fibre has announced its plans for a multi-million-pound investment in West Sussex and Kent.
Full fibre network provider Lightning Fibre, founded in East Sussex in 2018, has announced its plans to expand into West Sussex and Kent. The company has the backing of infrastructure and private equity investment manager Foresight Group.
Lightning Fibre recently passed 60,000 premises and this next stage of investment will fund the expansion to a further 140,000 homes and businesses.
Amit Thakrar, Portfolio Director at Foresight Group and Tim Passingham, Chair of Cambridge Management Consulting both recently joined the Board of Lightning Fibre alongside CEO Ben Ferriman and Simon Bonini, Non-Executive Director. The company’s expansion will also see its headcount increase to approximately 200.
Ben Ferriman, CEO of Lightning Fibre commented: “This is a very exciting time for Lightning Fibre and highlights our rapid progress and success so far. We have not only built a network, we’ve built a brand. A brand that appeals to our local markets through a clear product and price differentiation as well as a genuine, evidence-based community-centric approach and exceptional customer care.”
Foresight Group’s Portfolio Director Amit Thakrar added: “Progress in terms of network build, as well as uptake on the retail side of the business, has been extremely encouraging. All expectations have been exceeded and the positive reputation in the towns served by Lightning Fibre further supports the case for expansion.”
Additionally, in response to the cost-of-living crisis, Lightning Fibre has also permanently reduced its 1Gbps price by 25% and its 100Mbps price to £24 per month. This move makes its one of the lowest priced full fibre ISPs in the region.
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