The Catalan Institute of Finance (ICF) has financed the Catalan communications operator Vera, one of the first operators in Catalonia to offer 10G technology, with a loan of 2 million euros to improve its fibre optic infrastructure and expand its network to seven municipalities.

The actions financed by the public bank of the Generalitat of Catalonia will allow the operator, present in 15 counties and more than 55,000 homes, to provide a much higher internet connection speed than usual, with ultra-fast downloads, high-definition video playback and a greater capacity to support multiple devices connected simultaneously.

"Currently, the maximum speeds on the market are around 1G and, with the investment we have made this year, we will be able to offer our customers speeds ten times higher," explained Marc Mundó, CEO of the company.

The company will allocate part of the ICF financing to expand its fibre optic network in seven towns: Olot, La Garriga, Cabrils, Bellvei, Sant Martí de Centelles, La Pobla de Lillet and the El Montanyà housing estate, in Seva. The operator expects that, with this deployment, its network will exceed 5,000 kilometres by 2024. "We are getting closer to our goal of bringing fibre optics to the entire Catalan territory, even to those rural areas with less population or more difficult access. This was precisely one of our founding values," added Vera's CEO. 

"This operation shows that the ICF is an instrument at the service of the economy and the business fabric of Catalonia, but also of the country's strategic objectives: we finance a 100% Catalan project committed to rural areas so that it brings the latest telecommunications technology to the whole of the territory", said the CEO of the public promotion bank,   Vanessa Servera.

Vera, which currently has a workforce of 190 workers, was born in 2015 after the merger of three local operators created by three Catalan entrepreneurs: Goufone (Osona), Iguana (Anoia) and Soom (Bages). Since its foundation, it has experienced significant growth in its annual turnover, reaching €35.7 million in 2023 and with the forecast of reaching €43 million in 2024.

The 15 counties where it currently operates are L'Alt Empordà, El Baix Empordà, El Gironès, La Selva, Pla de l'Estany, La Garrotxa, Osona, El Ripollès, El Bages, L'Anoia, El Berguedà, El Vallès Oriental, El Maresme, El Baix Penedès and El Baix Llobregat.