OVH has closed a €400 million funding round with support from nine banking firms, further boosting the cloud provider’s €1.5bn global expansion plans.
The OVH Group offers cloud services to over one million customers around the world, and currently has plans to deliver two new data centres in the UK as part of its ambitious expansion plans.
With 270,000 servers deployed in 20 data centres across countries in North America, Europe and Asia Pacific, the company has managed to generate revenues of almost €400 million in 2016/17.
The investment was led by BNP Paribas, Groupe Credit Agricole and HSBC France, while Societe Generale Corporate and Investment Banking acted as Coordinator and Documentation after working with OVH since 2014.
Nicolas Boyer, CFO, OVH Group said: “This new financing provides us with an increasingly robust banking pool, renewing confidence in the group’s international strategy and computing. In addition, the entry of US investment bank JP Morgan into this pool reflects our position as a global plater in cloud computing.”
The new investment bolsters OVH’s global expansion strategy, which began in 2016 when the company won €250 million in funding from KKR and TowerBrook.
OVH has since then accelerated its plan to deliver global expansion with the opening of new data centres spread across global locations.
For example, OVH now has three data centres in Australia, Singapore and Poland with two new sites currently under construction in Germany and the UK.
The cloud provider opened its first UK data centre in London this year, marking the first of the three planned data centre sites for the UK region.
Boyer said: “We will continue to implement our strategic plan through international deployment, consolidation of our position in the digital market, acceleration of our growth among enterprise customers and by reinforcement and structuring of our organisation to take full advantage of market opportunities.”
The new investment is expected to strengthen its financial structure, providing support for global expansion over the next five years.