UK data center firm Custodian Data Centres has secured a £3.15 million ($4.27m) investment from BOOST&Co.

The funds from the alternative lender will be used to help develop its new data center in Dartford. Knight Corporate Finance advised Custodian on the funding.

First announced in November 2021, Custodian’s new 2,500 sqm (26,900 sq ft), 10MW facility in Dartford is due to open in Q2 2022. The company said the Tier III quality facility, known as DA2, will operate at a PUE rating of below 1.3

“This investment from BOOST&Co, combined with our existing self-funding, enables us to significantly speed up the development of our second site and support growth for new and existing customers,” said Rowland Kinch, CEO of Custodian.

Ryan Sorby, the head of the North and Scotland at BOOST&Co added: “The team at Custodian has already built a very strong business in a great sector, taking advantage of the increasing demand for its services. Our funding will help develop the firm’s new site at Dartford and enable Custodian to double in size during the next 24 months.”

Founded in 2009, Custodian currently operates five data centers across London and southeast England, including one in a former TV studio. Dom Lillie of Knight Corporate Finance, which advised on the deal said: “We are delighted to have been able to assist Custodian with this fundraise, which will help the business achieve its ambitious growth plans over the months and years to come.