WorldLink Communications, Nepal's largest private sector internet service provider, has secured a series B investment of NRs 1.08 billion (approximately USD 8.4 million) from British International Investment (BII), the UK Government's development finance institution and impact investor and NRs 900 million (approximately USD 6.9 million) from Dolma Impact Fund II (DIF II). The combined series B investment totals NRs 1.98 billion in the internet sector.
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Investments in WorldLink
British International Investment (BII) had already invested NRs 1.35 billion (approximately USD 12 million) in WorldLink in October 2019. With this most recent investment, announced on Monday, the total foreign investment in WorldLink has reached NRs 3.33 billion (approximately USD 27.2 million), which is the largest in the internet service industry, according to the statement by the company.
WorldLink Communications, Investment and Job Creation
WorldLink, Nepal's largest private internet service provider with over 750,000 customers, intends to accelerate its internet expansion throughout the country, focusing on rural areas. As one of the most significant employment generators in the nation, WorldLink currently employs approximately 5,500 individuals. BII and DIF II's investment will contribute to the creation of an additional 1,000 job opportunities within the company and provide training for enhancing the employees' skills.
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Worldlink's FTTH service in Karnali
Despite being one of the most challenging mountainous terrains and one of the least developed regions, Karnali has successfully obtained WorldLink's FTTH service. Additionally, the company has expanded its internet service to various rural areas of the country, including Chattrakot Rural Municipality and Ruru Rural Municipality, by laying fiber spanning several thousand kilometers. Currently, the company has a capacity of over two million home passes (ports).
According to the statement, Compared to other Asian countries, Nepal's reach in digital access is low, which has created real challenges in the development of communities and businesses.
