Access to the internet is more of a necessity nowadays, with the UN recognising it as a basic human right. However, broadband complaints are reportedly almost 40% higher in the UK, over every other sector. A key reason is that broadband firms offer new customers discounted prices, which can rise by up to 89% when their contract period ends. Daily, about 25,000 more people are said to roll onto this charge, often without them realising.
London-based national broadband provider Cuckoo aims to change the prevalent condition. It ensures that more people have access to better internet, and it wants to simplify broadband for users by offering a great deal on a rolling contract basis, sans hidden fees. The company has now raised £4.3 million in its latest funding round.
Funding details
The fresh funding round for Cuckoo was led by RTP Global, along with participation from JamJar Investments. Some individual investors also participated in the round including marketing veterans from Monzo, an early Stripe employee and Verizon’s former EMEA director. This funding round also marks the launch of the company’s service on uSwitch. ...