Last Updated on November 28, 2024
WorldLink Communications Limited has secured an investment of 10 million euros (€1 crore) from a government-owned Finish funding company Finnfund. The leading internet service provider (ISP) says that the funds will be used for its fiber broadband network expansion and building of its first tier 3 data center.
The Kathmandu-based ISP seeks to use the funding to correct the discrepant internet connectivity that exists between urban and rural areas. The company states that its advanced data center will reinforce connectivity improvement and also aid the economic development of the country.
The ISP and the FinnFund representatives signed the agreement papers on Mangsir 13, 2081. The event was graced by the Finnish Minister of Foreign Trade and Development Vile Taavio, Worldlink Chairman Dilip Agarwal, and Kuutti Kilpeläinen, Senior Investment Manager, Head of Digital Infrastructure and Solutions Portfolio.
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WorldLink to use FinnFund investment to provide more affordable and reliable internet
WorldLink seeks to utilize the funding for its service expansion to connect more areas with high-quality internet. “Finnfund’s investments in digital infrastructure seek to provide communities with faster, more affordable, and reliable internet, and WorldLink has been working towards bridging the digital divide in Nepal by expanding its services to rural areas of Nepal and to remote villages,” says Kuutti Kilpeläinen, Senior Investment Manager, Head of Digital Infrastructure and Solutions portfolio at Finnfund. “Being a Finnish impact investor, we of course also value the fact that WorldLink uses Nokia’s advanced technology to enhance its internet services.” The Nokia and WorldLink collaboration aims to improve the overall internet experience for WorldLink’s customers, making it more reliable and faster.
WorldLink’s expansion into the data center sector will benefit not only WorldLink’s customers but also other internet service providers, telecoms, and both public and private sector organizations. “Finnfund looks forward to supporting WorldLink in the environmental and social risk management during the data center construction” Kilpeläinen emphasized.
The collaboration between Finnish technology and equipment manufacturer Nokia and WorldLink aims to make the overall internet experience for WorldLink customers more reliable, faster, and more trustworthy.
Check out: How to Get Wifi Internet Connection at Home in Nepal?
“… our mission is to connect every corner of Nepal”
On the occasion, WorldLink Communications chairman Dileep Agrawal expressed delight at the FinnFund funding. He also shared how the company will use the funds. He said, “Finnfund’s investment is a significant milestone in our mission to connect every corner of Nepal to fast, reliable, and affordable internet. “By expanding our fiber network and establishing a world-class data center, we aim to bridge the urban-rural digital divide and accelerate digital transformation across the country.”
WorldLink is Nepal’s largest ISP in terms of the customer base with over 9 lakh households using its broadband connection. The ISP occupies 35% market share of Nepal’s broadband. As of now, the company’s services are available in 73 out of 77 districts.
WorldLink says that it’s Nepal’s first and only ISP to get huge foreign investment. Prior to this, the company also seized an investment by British International Investment and Dolma Impact Fund worth $15.3 million (over Rs 2 billion). The company used the funding to improve and widen its broadband FTTH network.
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The latest investment further helps WorldLink realize its goals of further service expansion. It’s also planning on issuing an IPO soon.
