Summer Shorts: Dominic Kearns of Fibrus and his £845 million gamble

In this episode of Trading Up, Jim Fitzpatrick interviews Dominic Kearns, founder and CEO of Fibrus, discussing the company's significant investment in building a fibre telecoms network in Northern Ireland and Cumbria. They explore the challenges of raising capital, the impact of government support, and the competitive landscape in the telecoms industry. Dominic shares insights into the operational challenges of building infrastructure, the transition from a build phase to focusing on customer acquisition, and his ambitious goals for the future.

Takeaways

Fibrus has invested £845 million in fibre telecoms infrastructure.

Dominic initially raised £100 million with a slide deck presentation.

Government backing was not initially part of the funding strategy.

Project Stratum - which was government backing - was a significant competitive win for Fibrus.

The company is expanding into Cumbria, focusing on hard-to-reach areas.

Customer acquisition is a key focus as they transition from building to operating.

Dominic emphasises the importance of understanding infrastructure investment.

The company aims to reach 200,000 customers in the next two years.

Fibrus operates both an open access network and a commercially integrated retail model.

Dominic's accounting background aids in managing the financial aspects of the business.

Hosted on Acast. See acast.com/privacy for more information.