TalkTalk Group has secured an additional £20 million ($26.8m) in investment from existing shareholders this week.

It adds to the £100m ($134m) investment the company secured on July 25, taking the total to approximately £120m ($161m).

"The new funding facilities will be used to strengthen the group's working capital position and support new product and other investment across its two businesses - PXC and TalkTalk," said TalkTalk in an update yesterday (August 7).

The company didn't name the shareholder.

The announcement comes weeks after reports emerged that TalkTalk missed several payment deadlines to broadband suppliers BT Openreach and CityFibre.

TalkTalk has struggled in recent years, reporting last month that it lost 400,000 customers in 2024, while reducing its headcount by 20 percent, including 130 jobs being lost at its Salford consumer division in December. The company's debt is said to be nearing £1.2 billion ($1.63bn).

In the company's announcement, TalkTalk said that more than 90 percent of its first lien creditors and approximately 87 percent of its second lien creditors have signed up to a support agreement to implement the transaction announced last month.

“We have already made significant progress in simplifying the way we run the business and deliver our services. The new investment will enable us to accelerate with confidence the next phase of new product delivery, automation, and improved customer experience across both our wholesale and consumer businesses," said James Smith, TalkTalk Group CEO, last month.

In 2021, Toscafund Asset Management, previously the second-largest shareholder in the company, completed a takeover of TalkTalk for £1.1bn ($1.49bn).

Two years later, the company split its business into three units: B2B Wholesale Platform, TalkTalk Consumer, and TalkTalk Business Direct, before TalkTalk sold the latter to TFP Telecoms Limited (TFP), a special purpose vehicle controlled by the main shareholders of TalkTalk Telecom Group Limited (TTG).

It was reported in June that the company could explore a split of its consumer arm and PXC, its wholesale and network division.