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Full-Fibre ISP with Customer Base Growing at 10% Per Month | Top 10 Potential
- Published December 10, 2021 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
“The UK consumer has been struggling with poor speeds, unreliable copper connections and mediocre customer service from faceless organisations for many years, as the government and Ofcom often highlight. Air Broadband is changing that as an Internet Service Provider (ISP) of purely gigabit-capable full-fibre connections, together with a focus on quality customer service.
Having already built and sold Bridge Fibre, a B2B ISP, I wanted to improve the consumer experience. Our vision is to grow into a full-service provider of connected devices that depend on efficient and reliable connectivity, such as smart home appliances, security, IoT, and existing wifi, TV, and VoIP. This will increase the revenue per customer as well as reduce churn.”
Andrew Glover, Chief Executive Officer, Air Broadband
Executive Summary
Air Broadband is a UK retail Internet Service Provider (ISP) enabling businesses and consumers to access full-fibre (Fibre to the Premises) connections.
New fibre infrastructure builders have raised billions of pounds to compete with Openreach and Virgin Media in the rollout of new fibre connections. However, they cannot attract large retail ISPs until they have passed at least 100,000 premises and require newer, agile partners willing to work with them to achieve their goals of customer takeup.
Consumers are likewise eager to take advantage of the benefits of fibre speeds and reliability. The rollout of full-fibre connections across the UK and the turning off of copper connections (DSL) and PSTN in 2025 provides an opportunity for new entrants in the telecommunications sector.
Investment Highlights
- Air Broadband already has a customer base of over 1000, which grows at 10% per month.
- The company has partnerships with seven wholesalers in various cities and regions with larger national (e.g., CityFibre, Gigaclear, OFNL) and smaller regional wholesalers (e.g., Full Fibre, VX Fibre).
- The founder has started three successful businesses, including selling Bridge Fibre, a business ISP, and achieved £56M in funding for Fibre Assets, a fibre infrastructure builder.
- Air Broadband sold the original fixed wireless customer base to Voneus in early 2021 with the funds reinvested in the business.
- Air Broadband has developed an efficient backend and frontend infrastructure system to prepare for scaleup.
Investment Offering
Air Broadband’s vision is to become a top 10 ISP over the next five years, through the following milestones:
- Increase customer base to 20,000 by the end of 2023 and eventually, 100,000+
- Expand into 50 cities
- Work with new partners (specifically Openreach by mid-2022)
- Develop into a comprehensive one-stop-shop, with the roll-out of a value-adding, fully-integrated smart-home product suite to increase ARPU and loyalty of the customer base
Air Broadband is looking to raise £1M through an equity investment.
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