European Edge data center firm Etix has secured €170 million ($199.5m) in financing.

The company, formerly known as Etix Everywhere, and investment firm Eurazeo this week announced a €120m ($140.8m) refinancing package to accelerate the operator’s European expansion, extendable to €170m.

The funding came from a banking syndicate comprising MUFG, Kommunalkredit Austria AG, La Banque Postale, Bpifrance, and BNP Paribas.

The company, which currently operates 14 data centers in France and Belgium with a deployed capacity of 8.1MW, plans to “consolidate its national presence and expand into key European markets.”

“Thanks to this refinancing, we are strengthening our financial solidity and giving ourselves the means to accelerate the development of our data center fleet in France and Europe. This success is the result of the trust of our financial partners and the collective work of all Etix teams. It marks a new step in our ambition to continue expanding our network to best serve our customers and to become a major player in Europe,” says Louis Blanchot, CEO of Etix.

The banks were advised by Société Générale CIB.

After Vantage acquired most of Etix’s European hyperscale footprint, ASX-listed Global Data Centre Group (GDCG) bought the remainder of Etix in 2020. European private investment firm Eurazo invested $46.8m into Etix last year, and French investment firm Infranity bought the remaining stake from GDCG earlier this year.