Kathmandu, March 20

WorldLink Communications, one of the largest private sector internet service providers, has received a combined Series B investment of Rs 1.98 billion - Rs 1.08 billion from British International Investment (BII) and Rs 900 million from Dolma Impact Fund II (DIF II).

This investment is one of the largest investments in the internet sector in Nepal so far, and the total foreign investment in WorldLink has reached Rs 3.33 billion ($27.2 million). In October 2019, BII had already invested Rs 1.35 billion in WorldLink WorldLink plans to use the investment to speed up its internet expansion activities across the country, especially in rural areas.

The company currently has more than 750,000 customers and employs around 5,500 employees, and the investment is expected to create an additional 1,000 jobs and provide skill enhancement training for the employees.

The investment will also help to expand skill development and training programmes and progress in health and safety standards.

Dileep Agrawal, chairman and managing director of WorldLink, expressed his commitment to uphold the faith of the investors in the company and transform WorldLink into an international level company.

Highlighting the importance of digital transformation in sustainable economic development in Nepal, British Ambassador Nicola Pollitt said that investments like these are crucial in supporting households and businesses throughout the region.

'I am delighted to see BII continue its support to WorldLink as they strive to provide increased internet access across the country.

Digital transformation is a key factor in sustainable economic development in Nepal and investments such as these are key to supporting households and businesses throughout the region.'

Abhinav Sinha, managing director and head of technology and telecoms at BII, emphasised that BII's second investment will provide crucial support to WorldLink in expanding its reach to hard-to-reach areas in Nepal with reliable and affordable internet service.

'This expansion will create more job opportunities and stimulate growth within the local economy,' Sinha said.

Professor Tim Gocher OBE, founder and CEO at Dolma Fund Management, the manager of DIF II, noted that Nepal's digital industry is the country's best chance at a short-term economic leap and this investment will enable more areas to participate in the global digital economy, resulting in better access to health, education, financial, and business-to-business services.

A version of this article appears in the print on March 21, 2023, of The Himalayan Times.