French web hosting provider OVH announced it had successfully raised $181.3 million for its revolutionary expansion project with the help of 10 different financial institutions. The relatively small web host is set to break new ground as it leaves France and makes its presence felt on a global scale.
It is a move that comes just weeks after OVH deployed its 500 Gigabit per second super-channels to its Pan-European network. This major upgrade to its product is already being given part of the credit for its successful fundraising endeavours.
Nicolas Boyer, the financial director for OVH, said the money acquired from the 10 financial institutions supplying the funds would cover 70 per cent of the company’s planned expansion. The remaining 30 per cent was already covered by its own cash reserves.
The company also spoke about the consolidation between its existing partners JHSBC and BNP Paribas, amongst others. The company claimed that this was vital, as it had been working with them for over a decade.
Although OVH revealed very little about its overall plan, it did say it would focus on its European expansion before moving into North America. It emphasised the importance of enhancing its infrastructure in Europe initially.
The web host has already laid some of the groundwork for its North American expansion. Recently, it built a brand new data centre just outside of Montreal in Canada.
Part of the money raised would go towards building what will become the biggest data centre in the world. Inside, 36 hosting towers with 10,000 servers in each one would work together to increase the web host’s portfolio from 150,000 servers to over 500,000 servers.
Observers continue to look on in interest as OVH tackles what will become one of its most ambitious projects in its history.