Ielo, which specialises in fibre networks for the wholesale market for corporate operators, has announced that it has raised funds to invest 160 million euros over five years in order to become the number three player in this market.

Although the amount of the fund-raising has not been specified, it is accompanied by the entry of a new shareholder into the group's capital: DIF Capital Partners, a European infrastructure fund.

 

The chairman and co-founder of Ielo, Arthur Fernandez, told AFP: "We are already going to commit 90 million euros over the next two years in order to develop our network. We are now present in all 30 metropolitan areas, and our aim is to extend our network to all prefectures within the next five years."

The objective is to become the third largest player in the wholesale market for business operators, behind the two giants Orange and SFR. "It is a highly fragmented market behind the two main players, with players that do not only wholesale. Our aim is to meet an expectation in this market, by emphasizing our neutrality and total control of our infrastructures, with our own tools. We will not compete with our customers", added Mr. Fernandez.

 

With 90 employees and a turnover of 13.5 million euros in 2019, the operator expects to remain on a strong growth dynamic for the current year despite the crisis caused by the coronavirus pandemic.

  

 

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Source : Le Figaro