OVH, Europe’s largest cloud hosting provider, has successfully raised EUR 400 million ($456 million) from nine financial banks and institutions.
This capital mobilization was led by BNP Paribas, Groupe Crédit Agricole (the No. 1 insurance group in Europe) and HSBC France. Participants also include JPMorgan Chase, CIC Nord Ouest, Banque Commerciale du Marché Nord Europe, Société Générale Corporate and Investment Banking.
This fund will be used for OVH’s global expansion over the next five years.
OVH has been operating aggressively since 2016, when KKR and Towerbrook invested EUR 250 million (US $ 285 million) in the company. Soon after, OVH announced plans to spend EUR 1.5 billion ($1.71 billion) to expand its market outside Europe.
Only this year, OVH opened five datacenters, first in Singapore and in the UK; Invested more than 10,400 m2 facilities near Portland; Oregon (US) and acquired vCloud Air service with all data center, customers and employees from VMware.
OVH currently manages more than 270,000 servers with 20 datacenters and is moving to open two additional data centers on the East Coast and West Coast of the United States.