The arrangement, co-led by Hancock Whitney Bank, UMB Bank, and Texas Capital Bank, will be used to support investments in fibre-to-the-home (FTTH) and dark fibre network solutions.
Vero already provides fibre infrastructure across 250 markets in 20 US states but is looking to expand to support digital services and small businesses requiring reliable connectivity.
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Greg Friedman, chief financial officer of Vero, said: “Vero continues to see exceptional demand for high-capacity fibre bandwidth, from the largest hyperscalers, looking to support investments in AI infrastructure, to families and small business[es] looking for sufficient bandwidth to live and work productively.
“We are thrilled to partner with our new lender syndicate to accelerate organic network builds, as well as make strategic acquisitions that enhance our capabilities, customer reach and network footprint.”
Vero was founded in 2017 by former Zayo Group executives, including co-founder Matt Erickson.
The firm has gone on to significantly increase its borrowing capacity from its previous $100 million facility, with the new arrangement supplementing existing investments from Ariet Capital and Delta-V Capital.
The credit facility expansion comes after Vero launched a multi-conduit metro fibre ring in Temple in central Texas, designed to support large enterprise and hyperscale customers and new data centre operators.
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