Teraco Data Environments, the provider of vendor-neutral colocation data centres, has completed a R158-million ‘Series C’ financing.
The financing includes a combination of both equity and debt, with IFC, a member of the World Bank Group, becoming an equity shareholder in Teraco and the Development Bank of Southern Africa (DBSA) providing R80-million of senior debt.
The financing will be used to support Teraco’s growth. The Johannesburg co-location data centre will be expanded to three times its current size and two new co-location facilities will be opened in Durban and Cape Town.
All of the company’s current investors also participated in the financing, including Treacle Private Equity, Pentangle Group and Marlow Capital. Marlow Capital acted as financial advisor on the financing.
Tim Parsonson, group chief executive of Teraco, says: "We are very excited about bringing into Teraco two quality finance providers in IFC and the DBSA, who will help us with our next phase of exciting growth.”