What FX Networks does

FX Networks is a New Zealand wholesale fibre optic infrastructure operator that owns and operates an inter-city fibre backbone running the length of the country from Dunedin in the South Island to Whangarei in the North Island. Founded in 2004 and headquartered in Wellington with 51-100 employees, the company provides the underlying transport layer used by carriers, large enterprises, and government customers across New Zealand. Beyond raw fibre transport, the associated service portfolio extends into managed services — including SD-WAN (Insight Network), DDoS protection, Cloud Security, Managed LAN/WiFi, Cloud PBX, and Mobile as a Service (MaaS) — and into broadband products such as Fibre, Hyperfibre (multi-gigabit up to 900Mbps), Wireless Broadband, and integrated Starlink satellite services for remote-site coverage.

FX Networks' business model combines recurring subscription revenue from connectivity and managed services with one-time device and installation revenue. Pricing is tiered across consumer-style broadband plans (e.g., Unlimited Fibre from NZD $89/month when bundled) and enterprise contracts, with 12–24 month terms, trade-in programs, and interest-free device financing through Mobile Repayment Options. Go-to-market spans enterprise field sales for large accounts, inside sales/telesales for mid-market, direct e-commerce and physical retail for SMB and consumer segments, and channel partnerships through Bunnings Trade, NZ Chamber of Commerce, and Farm Source for vertical-specific access. Customer segments are horizontally stratified into SMB, Enterprise, and Public Sector/Government, with named logos spanning education (University of Waikato), healthcare (NZ Health Group), government (Clutha District Council), infrastructure (Carus, OCS, Outpost Central), construction (Bayonne, FletcherTech, Mike Greer Homes, Waghorn Builders), and consumer brands (Antipodes, Triumph & Disaster, NZ Breakers). Strategic technology alliances include Starlink (satellite), Samsung and Apple (devices), and Microsoft (Teams Calling integration).

Name

FX Networks

Legal name

Two Degrees Mobile Limited

Website

https://fx.net.nz

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

51–100 employees

Short description

FX Networks operates a national inter-city fibre optic backbone in New Zealand from Dunedin to Whangarei, providing wholesale connectivity, broadband, managed services (SD-WAN, DDoS protection, MaaS), and integrated satellite coverage to carriers, enterprises, and government customers.

Ownership category

akta.pro rank

Headquarters

HQ city

Wellington

HQ country

New Zealand

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D

Revenue model

1. Mobile Plans: Recurring subscription revenue from Pay Monthly and Prepay mobile plans. Includes Team Plans, Leader Plans, Group Plans, and Sidekick Plans. Revenue from plan charges, add-ons, and overage charges.
2. Broadband Services: Recurring revenue from fibre, wireless, and hyperfibre broadband plans. Includes business broadband plans, rural plans, and Starlink services. Revenue from monthly plan charges.
3. Device Sales: One-time revenue from mobile phones (Samsung, Apple, OPPO), tablets, wearables, and accessories. Sold outright or through interest-free Mobile Repayment Options (MRO) on eligible plans.
4. Managed Services: Revenue from managed services including Mobile as a Service (MaaS), Managed LAN/WiFi, Data Centres, Cloud Connect, and SD-WAN solutions.
5. Business Communications: Revenue from Teams Calling, Cloud PBX, SIP trunks, and Group Text services for business communications needs.
6. Power Services: Bundled power services for business customers, providing additional value and cross-selling opportunities.
7. Trade-in Program: Trade-in program where customers exchange old devices for account credits or instant discounts on new purchases.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

FX Networks owns and operates an inter-city fibre optic network spanning from Dunedin in the South Island to Whangarei in the North Island of New Zealand. The company provides fibre-optic infrastructure connectivity, operating within the Two Degrees Mobile Limited group (2degrees), supporting the group's mobile, broadband, and managed ICT services across the country.

Product overview

2degrees Business offers a comprehensive ICT product portfolio serving New Zealand businesses across mobile, broadband, managed services, security, and cloud communications. The core offering includes business mobile plans with device options and team management capabilities, complemented by broadband services spanning fibre, wireless, and satellite (Starlink) technologies. Managed services include Mobile as a Service (MaaS), Data Centres, Managed LAN/WiFi, and SD-WAN for network infrastructure. Communication services comprise Teams Calling (Microsoft Teams integration), Cloud PBX, SIP Trunks, and Group Text messaging. Security offerings include DDoS Protection and Cloud Security. The portfolio serves diverse market segments including small and medium businesses, enterprise, and public sector organizations.

Differentiator

Problem solved

Functional benefit

Products and services

• Inter-City Fibre Optic Network Wholesale inter-city fibre optic network spanning from Dunedin (South Island) to Whangarei (North Island), providing backbone connectivity for telecommunications services across New Zealand.

Quantifiable outcome

• Reduced mobile costs by 48% for University of Waikato
• +4 more outcomes

Named customers19 records

Segments3 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Starlink (SpaceX)coreTechnology or IntegrationStarlink satellite internet services integrated into 2degrees business broadband offerings. Provides wide coverage, scalability, and flexibility for businesses in remote areas. Particularly highlighted for construction and technology companies requiring connectivity beyond traditional broadband reach.
• SamsungcoreTechnology or IntegrationMajor device partnership offering Samsung smartphones (Galaxy S26, Z-series) on interest-free terms and promotional savings up to $1000. Devices sold through 2degrees stores and online with exclusive business deals.
• ApplecoreTechnology or IntegrationApple devices available through 2degrees Shop including iPhones, iPads, and Apple Watch wearables with business plan bundling options.
• Microsoft (Teams)coreTechnology or IntegrationTeams Calling integration allowing 2degrees business customers to use Microsoft Teams for unified communications, voice calls, and collaboration.
• Bunnings TrademinorChannel Partner/ Reseller/ DistributorBunnings Trade PowerPass program offering exclusive deals to Bunnings trade customers on 2degrees business mobile and broadband plans.
• NZ Chamber of CommerceminorChannel Partner/ Reseller/ DistributorNZ Chamber partnership providing exclusive business communication deals to Chamber members across New Zealand.
• Farm SourceminorChannel Partner/ Reseller/ DistributorFarm Source partnership offering exclusive mobile and broadband deals to rural business customers and farmers.
• NZ BreakersminorGTM or Marketing PartnerSponsorship of the NZ Breakers basketball team. Partnership ensures seamless connectivity for the team including Aussie roaming and high-quality WiFi, while providing brand visibility and community engagement for 2degrees.

Scale indicators1 record

Recent moves1 record

Expansion highlights5 records

Direct peers

• Zayo Group: Zayo operates long-haul fibre backbone networks in North America and Europe. Comparable as a dedicated fibre backbone operator with similar wholesale long-haul business model.
• Chorus New Zealand: Chorus owns the vast majority of NZ's fibre access and backhaul infrastructure, including the UFB network. It is the most directly comparable wholesale fibre infrastructure operator in New Zealand.
• One New Zealand (Vodafone NZ): One NZ is a major NZ mobile and broadband operator with its own fibre and wireless infrastructure. It directly competes with 2degrees/FX Networks for mobile, broadband, and enterprise customers.
• 2degrees: 2degrees is the parent/sister brand under Two Degrees Mobile Limited. FX Networks' fibre backbone underpins 2degrees' mobile, broadband, and managed-services portfolio, making them operationally inseparable.

Broad incumbents

• Spark New Zealand: Spark is the largest incumbent telco in NZ, offering mobile, broadband, fibre, and enterprise ICT services. It is a broad incumbent across all segments where FX Networks and 2degrees compete.

Regional players

• Vector Limited: Vector is an NZ infrastructure company with fibre and metering communications assets. It is comparable as a regional fibre infrastructure owner with adjacent energy infrastructure.
• Enable Networks: Enable Networks is a wholesale fibre operator covering the Christchurch region. Comparable as a regional UFB fibre infrastructure operator with similar wholesale business model to parts of FX Networks.
• Northpower Fibre: Northpower Fibre is a wholesale fibre operator in the Northland and Whangarei region — exactly where the northern end of the FX Networks backbone terminates. Comparable as a regional UFB fibre infrastructure operator.
• Tuatahi First Fibre: Tuatahi First Fibre is an NZ wholesale fibre operator covering the Tairāwhiti and Waikato regions. Comparable as a regional wholesale fibre infrastructure business.
• Ultrafast Fibre (UFF): UFF is an NZ wholesale fibre operator covering the Waikato, Bay of Plenty, and Taranaki regions. Comparable as a regional UFB fibre infrastructure operator with similar wholesale economics.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/vocuscomm
• YouTubeyoutube.com/user/2degreesmobile
• Facebookfacebook.com/2degreesmobile
• LinkedInlinkedin.com/company/6405390
• Instagraminstagram.com/2degreesnz

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FX Networks