Digiweb Raises €20M

DUNDALK, Ireland -- Digiweb Ltd confirms that it has today concluded a €20m funding round in conjunction with the Moritz Group, one of Ireland’s leading investment development firms active throughout Ireland and Central Europe.

Until now, Digiweb’s rapid expansion and construction of its national networks has been entirely self-financed through reinvestment of revenues and a business expansion programme. The company has built a reputation for delivering innovative and quality services nationwide that other providers have found difficult to match. Digiweb’s Metro service, launched just 12 months ago, has enjoyed phenomenal take-up amongst both business and home subscribers, uniquely offering a Broadband and Telephone bundle for less than €20 per month, less than the basic line rental fee consumers are being charged by other operators before broadband is added.

The new funds will extend Digiweb’s ongoing expansion of Metro throughout Ireland, will support the company’s further expansion into Europe, and will build Ireland’s first 4G mobile network, details of which are due to be announced soon.

“On foot of this investment we can aggressively address the question of broadband availability across the country, and will accelerate our plans to extend our market leading networks and services further across both Ireland and Europe”, stated Colm Piercy, Managing Director, “in addition to ongoing organic growth through our compelling service offering, we continue to evaluate opportunities for acquisition and entry to new International markets”

Digiweb Ltd.