OneWeb gives up on Bpifrance export-credit financing for now, plans more equity raises in coming months

by Peter B. de Selding

PARIS — Startup satellite broadband constellation startup OneWeb has given up on securing export-credit financing from France’s Bpifrance and will conduct several new rounds of funding from current and prospective equity investors in the coming months to complete its Phase 1 capex plan, OneWeb Chief Financial Officer Tom Whayne said.

Whayne conceded that the universe of investors willing to support OneWeb is not large given the company is building a greenfield infrastructure with no existing customers.

What Whayne did not say, but what has . . .

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