Asteo Red Neutra
Wholesale fiber-to-the-home operator for rural Spain.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
* | €50.0m | Debt | |
| Total Funding | 000k | ||
| EUR | 2022 | 2023 |
|---|---|---|
| Revenues | 0000 | 0000 |
| % growth | - | 422 % |
| EBITDA | 0000 | 0000 |
| Profit | 0000 | 0000 |
| % profit margin | (585 %) | (147 %) |
| EV | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 |
Source: Company filings or news article
Asteo Red Neutra is a wholesale fiber-to-the-home (FTTH) operator focused on deploying and operating fiber optic networks in rural and sparsely populated areas of Spain. The company was founded by Pedro Abad, who serves as the CEO. Abad's previous experience includes roles as Director of Operations, Sales, and Marketing for Adamo Telecom, another operator specializing in rural FTTH, as well as management positions at HTC, Lebara, and Nokia in Spain.
The company operates on a wholesale business model, providing open-access network infrastructure to other telecommunication operators, enabling them to offer services to end-users in underserved regions. Asteo's strategy focuses on greenfield areas with no existing fiber providers, building both last-mile FTTH connections and the essential backhaul networks to link these rural municipalities. Its core services include bitstream FTTH, dark fiber leasing, and capacity services, primarily serving telecom and energy operators. By the end of 2023, the company had connected 121,883 homes across 342 municipalities. The initial phase of deployment focuses on the regions of Extremadura and Castilla León, with a goal of connecting over 500 towns and building more than 1,900 km of backhaul infrastructure.
In October 2021, Cube Infrastructure Managers' Connecting Europe Broadband Fund (CEBF) announced an investment in the project, part of a total investment of €40 million to deploy the FTTH infrastructure. Asteo Red Neutra has also participated in Spain's UNICO-Broadband Programme to support its expansion. The company secured an additional €50 million in senior debt financing from Allianz Global Investors to extend its network reach, aiming to cover 450,000 homes by the end of 2027.
Keywords: wholesale fiber, FTTH, rural connectivity, fiber optic network, telecommunications infrastructure, backhaul network, open-access network, rural Spain, digital divide, network operator, bitstream, dark fiber, connectivity services, telecom infrastructure, last-mile connectivity, Extremadura, Castilla León, wholesale telecom, infrastructure investment, digital inclusion