WorldLink Communications Limited, a leading internet service provider (ISP) in Nepal, has secured a €10 million investment (approximately 1 crore euros) from Finnfund, a government-owned Finnish funding company. The funds will be directed towards expanding its fiber broadband network and developing its first Tier 3 data center.
Based in Kathmandu, WorldLink aims to address the digital connectivity gap between urban and rural areas in Nepal with this new investment. The company intends to use the advanced data center to bolster connectivity and foster economic development throughout the country.
The agreement was signed on Mangsir 13, 2081, in a ceremony attended by the Finnish Minister of Foreign Trade and Development, Vile Taavio, WorldLink Chairman Dilip Agarwal, and Kuutti Kilpeläinen, Senior Investment Manager and Head of Digital Infrastructure and Solutions Portfolio at Finnfund.
WorldLink will use the investment to extend its services to rural areas, providing more affordable and reliable internet. “Finnfund’s investments in digital infrastructure aim to provide communities with faster, more affordable, and reliable internet. WorldLink has been working to bridge the digital divide in Nepal, especially in remote villages,” said Kuutti Kilpeläinen. He also highlighted the collaboration with Nokia, whose advanced technology will enhance WorldLink’s internet services.
The expansion into the data center sector will not only benefit WorldLink customers but also assist other internet service providers, telecom companies, and public and private organizations in Nepal. Kilpeläinen noted that Finnfund looks forward to supporting WorldLink in managing environmental and social risks during the data center construction.
WorldLink Chairman Dilip Agarwal expressed his enthusiasm for the investment, stating, “Finnfund’s investment is a significant milestone in our mission to connect every corner of Nepal to fast, reliable, and affordable internet. By expanding our fiber network and establishing a world-class data center, we aim to bridge the urban-rural digital divide and accelerate digital transformation across the country.”
WorldLink, Nepal’s largest ISP by customer base, serves over 900,000 households and holds a 35% market share in Nepal’s broadband sector. The company’s services are available in 73 out of 77 districts, making it the first and only ISP in Nepal to receive such significant foreign investment. Prior to this, WorldLink received a $15.3 million investment from British International Investment and Dolma Impact Fund, which helped improve and expand its FTTH broadband network.
With the new investment, WorldLink is poised to expand its services further and is also planning to issue an IPO soon.