The funding will be used to expand the company’s broadband infrastructure.
G-Network will specifically prioritise areas with significant business density and seeks to install its fibre solution in 70 additional streets before the end of the year.
The company was co-founded by former telecomms execs Sasho Veselinski and David Sangster, who commented on the funding: “As we continue to build a loyal and committed customer base throughout Central London, we’re ambitious about our objective to provide SMEs with affordable, ultrafast fibre broadband without the inefficiencies of legacy networks.”
“This investment from Albion Capital, alongside its team’s exceptional record in supporting growth companies, will enable us to deliver our market-leading service to more potential clients, at a faster rate,” added the entrepreneurs.
Adam Chirkowski, an investment director at Albion Capital, said G.Network represented a “compelling proposition for the enormous number of growing small and medium businesses in teh capital, which are drastically under-served by existing IT infrastructure”.
“In addition to the market opportunity, we have every confidence in the track record and vision of the two founders, Sasho and David. We look forward to working with them over the coming years to help the business develop its network and increase the potential of London’s SMEs,” the investor added.