Fiera Infrastructure, a mid-market infrastructure investor, which is part of Fiera Capital Corporation (TSX: FSZ), today announced that it has agreed to invest growth capital into INALAN, a fiber-to-the-home (FTTH) internet service provider (ISP) in Greece.

INALAN – Overview

INALAN was founded in 2014 and is headquartered in Athens, Greece. The company is deploying its own proprietary fiber network in Greece’s two largest metropolitan areas, Athens and Thessaloniki. Within these metros, INALAN is an ISP to residents and businesses who have historically been underserved by Greece’s existing connectivity infrastructure (e.g., ADSL technology).

In the “coming years” and with the backing of Fiera Infrastructure, INALAN has set a target to extend its fiber network footprint to up to 1.6 million homes passed across Greece.

INALAN Fiber Deployment Greece

INALAN is deploying its fiber-to-the-home (FTTH) network using gigabit ethernet passive optical network (GPON) technology.

Value Proposition

INALAN provides high-speed connectivity at competitive prices, which has allowed the company to gain traction in Greece’s broadband market. Specifically, the company offers customers fiber broadband packages at symmetrical (i.e., upload and download) speeds of 100 megabits per second (Mbps) and 200 Mbps.

Open Access Wholesale Fiber Network

INALAN operates and is building an open access wholesale fiber network. Therefore, INALAN’s network is open to all internet service providers (ISPs) and carriers to offer broadband services to their customers, using INALAN’s infrastructure.


INALAN is led by Kostiantyn Dolzhenko as its Chief Executive Officer and Founder. Additionally, Luis Alvarez Satorre, who is the Chairman of IslaLink, a subsea cable company owned by Fiera Infrastructure (see below), will also be the Chairman of INALAN.


In 2020, INALAN generated revenue of €1.6m ($2.0m USD) and de minimis profits, given that the company remains in the fiber build-out phase.

Transaction Advisors – Fiera Infrastructure

Fiera Infrastructure’s financial advisor was DC Advisory. Additionally, Fiera Infrastructure’s legal advisor was Baker McKenzie.

Fiera Infrastructure – Overview

Fiera Infrastructure invests in mid-market infrastructure across sectors including utilities, telecommunications, transportation, renewables, and public-private partnerships (PPPs). Presently, the firm has assets under management (AUM) and commitments of $3.6bn Canadian dollars ($2.85bn USD).

Within digital infrastructure, Fiera Infrastructure has also invested in IslaLink, a subsea cable operator, which has developed or announced the EllaLink and IONIAN subsea cable systems. Most relevant to INALAN is the IONIAN system which will connect Crotone, Italy, with Preveza, Greece. Moreover, the IONIAN system will have two terrestrial fiber rings to the cities of Milan and Rome in Italy, as well as Athens and Thessaloniki in Greece.

Jonathan Kim covers Fiber for Dgtl Infra, including Zayo Group, Cogent Communications (NASDAQ: CCOI), Uniti Group (NASDAQ: UNIT), Lumen Technologies (NYSE: LUMN), Frontier Communications (NASDAQ: FYBR), Consolidated Communications (NASDAQ: CNSL), and many more. Within Fiber, Jonathan focuses on the sub-sectors of wholesale / dark fiber, enterprise fiber, fiber-to-the-home (FTTH), fiber-to-the-premises (FTTP), and subsea cables. Jonathan has over 8 years of experience in research and writing for Fiber.


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