Forest Secures £13M in Series B Funding to Expand Operations and Launch New E-Bike Models

[James]

Driving Sustainable Urban Mobility

Forest, Europe’s most innovative shared bike operator, has announced the first close of its £13 million Series B funding round. The investment includes £10 million in asset-backed financing from Fintex Capital and £3 million from B8 Venture Partners and existing investors. The funding will fuel Forest’s operational expansion, the introduction of three new e-bike types, and advancements in research, development, and technology.

 

 

Forest’s Commitment to Sustainable Growth

1. Expanding Operations and Fleet Diversity

Forest plans to:

• Launch three new e-bike models: ForestCargo, ForestDuo, and ForestKid.

• Achieve gender parity among its riders by 2027 through targeted initiatives and fleet enhancements.

2. Innovative Parking Solutions

• Forest pioneered virtual parking bays, promoting responsible user behaviour.

• The new funding will support advancements in parking compliance and user behaviour technology to ensure sustainable and responsible operations.

3. Strategic Expansion Plans

Forest aims to:

• Expand its footprint to new cities in 2025.

• Submit competitive bids for tenders, including its recent submission for the Paris bike-share scheme.

 

 

A Record Year for Forest

Operational Milestones

• 1.2 million trips per month: Demonstrating strong user engagement.

• Tripled revenues in 2024: Marking a record-breaking year.

• First full year of profitability: Solidifying its position as a sustainable business.

Environmental Impact

• Forest’s “zero-emission” operations deliver significant benefits to urban residents, reducing car dependency and promoting eco-friendly travel.

 

 

Investor Confidence in Forest

Fintex Capital’s Role

• Fintex Capital provided £10 million in asset-backed financing through its flagship UK fund, Fintex Private Debt.

• Sophie Batoua, CIO at Fintex Capital, led the transaction.

Statements from Leadership

Agustin Guilisasti, Co-Founder & CEO, Forest

"The Fintex investment allows us to accelerate our growth while ensuring rider safety and maintaining responsible operations. With this financing, we are making excellent progress towards our vision of affordable, sustainable mobility for all."

Robert Stafler, CEO, Fintex Capital

"We are thrilled to support Forest, London’s affordable and eco-friendly micromobility platform. Today, more than ever, cities need smart, safe, and easy-to-use bike schemes. We look forward to seeing Forest solidify its strong position in London and unlock new cities."

 

 

Forest’s Vision for the Future

A Leader in Micromobility

With its innovative business model, Forest is redefining urban mobility by:

• Providing free daily bike usage to promote accessibility.

• Reducing car dependency in cities.

Expansion Goals

• Strengthen its presence in London.

• Launch operations in additional major cities across Europe.