Fastspeed rumbles to the broadband throne
The name says it all. Fast. Speed. The Danish broadband provider Fastspeed is quickly on the rise. In record time, Fastspeed has become a serious competitor in the broadband market. With its ambition to offer the fastest and most stable internet connection at the sharpest price, Fastspeed has rounded 40,000 customers in the first 16 months of the company’s lifetime. That is more than twice as much as the company was expecting.
“The market has received us insanely well and I think it’s because we offer a no bullshit offer. Broadband has become the lifeline for homes, and we have designed a very easy onboarding flow. This way, we believe we are leveraging the market’s best product, the sharpest price and the best customer experience,” says CEO at Fastspeed, Jens Raith.
Fastspeed offers 1000 Mbit broadband for households with connection to the COAX or fiber network. This is equivalent to downloading a 15 GB movie in just 2 minutes. Indeed a fast speed. A few years ago, such fast internet access cost around 70€/month, but Fastspeed has halved that price.
“If you follow in the footsteps of others, you will never get ahead. We have succeeded in creating a new agenda in the market, and it works- All our competitors have copied us 1:1,” says Jens Raith.
Although Fastspeed cuts itself off from some customers by using only COAX and fiber, the focus on future proof technology is completely deliberate.
“In today’s hierarchy of needs, broadband is even more important than food. It has become very clear during COVID-19 just how important it is to have a stable connection to the home. COAX and fiber will expand massively in the future. Just look at the energy companies standing in line to dig down fiber cables. That is the reason we are not afraid to focus solely on that,” says Jens Raith.
However, a price dip of those proportions equals a streamlined organisation Therefore, the majority of sales must be arranged online.
“We stick to just delivering one product. Broadband. At the same time, the majority of our sales take place online. That is extremely cost-effective, and it is necessary when offering that price,” says Jens Raith.
Fastspeed has chosen to work with Clearhaus to be able to sell broadband subscriptions completely smoothly online.
“We use Clearhaus, because we aim to be digitally strong and need a premium acquirer with a good price that can handle a big splash of subscription payments every month. At the same time, we would rather grow together with a smaller player like Clearhaus. Here, we can sense that we are being taken seriously for our ambitions and not for our size. We simply never drown in the crowd,” says Jens Raith.
Everything indicates that Fastspeed will continue to grow at a rapid pace. And Jens Raith has no doubts:
“In 3-5 years, we will be one of the largest broadband providers in Denmark,” he predicts.