FOR IMMEDIATE RELEASE
ElektraFi INC Secures $50 Million in Funding from Metropolitan Partners to Expand and Enhance Rural Internet Services
Denver, CO – ElektraFi INC (“ElektraFi”) is pleased to announce the successful completion of a $50 million capital raise with the aid of Logan Growth Advisors. ElektraFi INC is a leading internet service provider dedicated to delivering high-quality internet access to rural America. This round of funding, backed by Metropolitan Partners Group Management, LLC (“Metropolitan”), will fuel ElektraFi’s growth in its current markets of Texas and Colorado and support strategic acquisitions.
As a company committed to bridging the digital divide in rural areas, ElektraFi has consistently focused on providing reliable and affordable internet services where it is needed most. The new capital will enable the company to expand its infrastructure and enhance service offerings, ensuring more communities have access to the critical connectivity required for education, business, community, and everyday life.
“We are thrilled to have the support of Metropolitan Partners as we continue to pursue our mission of connecting rural America,” said Eric Danner, COO of ElektraFi. “This investment will not only allow us to grow organically in our existing markets, but also explore strategic acquisitions that can broaden our reach and impact. Our goal is to ensure that everyone, regardless of location, has access to reliable internet service.”
The funding will be strategically allocated to enhance ElektraFi’s existing market presence in Texas and Colorado, while also seeking opportunities to acquire complementary businesses that align with its mission. These efforts will significantly increase the company’s market penetration and service capabilities, enabling more rural communities to benefit from high-speed internet access.
“We believe in the vision and potential of ElektraFi to transform internet connectivity in underserved areas,” said Richard Lin, Managing Director at Metropolitan Partners. “Their commitment to innovation and customer service makes them a standout player in the industry, and we are excited to support their expansion efforts.”
This latest round of funding marks a significant milestone for ElektraFi, building on previous successes and setting the stage for future growth. The company remains dedicated to providing exceptional internet services and looks forward to bringing more rural communities online.
The Growth of ElektraFi INC
Headquartered in Denver, CO, ElektraFi is committed to expanding its reach and enhancing its service offerings. With a mission to bridge the digital divide, ElektraFi provides essential connectivity solutions that empower communities and drive economic growth. ElektraFi is on track to become one of the largest rural internet providers in the nation.
About Metropolitan Partners Group Management, LLC
Founded in 2008, Metropolitan Partners Group is a private investment firm that provides growth capital to non-sponsored businesses in the domestic lower middle market space, unconstrained by industry or asset class. The firm works directly with business owners and management teams to grow their balance sheets and build lasting value while aiming to provide downside protection to its investors. Metropolitan has deployed more than $2.7 billion in loans and completed more than 150 transactions with companies across multiple business sectors. Visit www.metpg.com for more information.
