LuxNetwork Secures €5m Financing, Plans to Connect to 20 Data Centres

On Thursday 12 December 2024, LuxNetwork, a Luxembourg-based telecommunications operator, announced a structured financing agreement with Spuerkeess (BCEE) and the Société Nationale de Crédit et d'Investissement (SNCI), supported by its investors and backed by the Mutualité de Cautionnement (Guarantee Mutuality).

This project is part of a strategic effort to enhance Luxembourg's digital resilience while expanding LuxNetwork's reach in Belgium, France and Germany. According to LuxNetwork, it addresses the growing demand for ultra-high-speed connections between Luxembourg, Brussels, Frankfurt and Paris. Additionally, it reflects LuxNetwork's ambition to connect Luxembourg to more than 20 data centres across Europe, thus improving existing performance and capacity levels.

Businesses in the financial, technology and logistics sectors will directly benefit from this infrastructure, enabling them to access ultra-fast connectivity services described by LuxNetwork as essential for their critical operations and digital transformation.

According to Luc Lutot, founder and CEO of LuxNetwork: "This €5 million financing strengthens our position as a key player in 100Gbps and 400Gbps connectivity in Luxembourg and across Europe. By investing in cutting-edge infrastructure with our technology partner Ciena, we address critical needs for digital transformation while bolstering Luxembourg's competitiveness in the telecommunications sector."