London-based e-bike sharing startup HumanForest has raised £12 million in a Series A funding round aimed at solidifying the company’s market position. Since late 2020, HumanForest has raised £17.4 million.
The £12 million Series A round is comprised of a £5 million debt financing transaction provided by Triodos Bank UK that is earmarked for the fleet expansion, while a £7 million equity investment provided by TheVentureCity founder and CEO, Laura González-Estéfani, Cabify co-founder Vicente Pascual, and family offices including LarrainVial and Santa Cecilia, will be used on the further development of the company’s advertising platform as well as a recently launched user app.
While there’s certainly no shortage of e-bike and e-scooter sharing providers to be found in The Big Smoke, where HumanForest stands apart from the crowd is in its unique ad tech platform, one that allows companies to advertise and offers riders 10 minutes of free cycling time per day. And this is to say nothing of the fact that HumanForest is the only micro-mobility operator in London that holds the coveted B-Corp status.
“Sustainable micro-mobility is a force for good in cities but to bring meaningful change it must be affordable and accessible. This funding round has accelerated our expansion, bringing affordable and sustainable mobility to even more Londoners, whilst enhancing our capital efficient approach to growth,” commented HumanForest CEO and founder Agustin Guilisasti.