Finetwork to increase capital by €10 million

It is still under consideration by the General Meeting of Shareholders, but will be given the green light in the coming days.

Finetwork announced capital increase of 10 million euros which will give entry to new member on the board of directors. This will be Kai Capital, a business resource manager headed by Alfredo Pérez Fernández, former president of Racing de Santander. The expansion will therefore enable the company to accelerate its growth and reach its 2027 target of three million customers.

Three million customers by 2027

The operator confirms that the capital increase will be approved by the General Meeting of Shareholders in the coming days. This €10 million increase will allow Kai Capital to join the board of directors and become a shareholder.

Thin network will receive new funding in two tranches: one of debts worth 10 million euros and the other 10 million through a capital increase to become a shareholder. “Both tranches will be fully used to finance the company’s growth,” the company said in a statement.

With this, the company will complete another part of its financing process, which will be complemented by additional financing through bank debt in the coming weeks. “After the bank financing process The maximum debt level will be about 2.5 times EBITDA. says Finetwork.

Everything will go towards accelerating your growth.who hopes to achieve 3 million customers by 2027In addition to increasing investment, the company rolled out a 5G network, as it had been limited to 4G+ until now, and opened physical stores, as it realized it needed a physical presence to compete with other operators.

On the other side, in the field of betting New combinations of fibre with mobile and unlimited data are being released, as the previous data cap was 150GB.

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