UK E-Bike Operator HumanForest Raises $15 Million in Series A Funding Round

HumanForest, the UK e-Bike company, has raised £12mn ($15mn) in a Series A funding round, bringing its total funds raised to £17mn. The funding will enable it to double the size of its London fleet to meet growing demand for its services.

The Series A includes a £5m project finance facility from sustainable finance specialist Triodos Bank UK.

The new equity will also be invested in technology, further developing the company’s advertising technology platform and new User App.

HumanForest’s ad tech platform allows companies to advertise with purpose by providing HumanForest users with 10 minutes free cycling per day, driving the modal shift needed to decarbonise transport.

The company has quickly grown market share in London since its launch 18 months ago, reaching 300,000 users, completing 2 million trips and winning licences in nine London Boroughs.

HumanForest is the only micro-mobility operator in London that has zero emission operations and is an accredited B-Corp. 

Agustin Guilisasti, CEO & Founder at HumanForest, says: “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. Deeply aligned with our commitment to a more sustainable future, Triodos Bank is a natural partner for us and an important part of our expansion into Europe.” 

Amandine Tetot, Head of Project Finance at Triodos Bank UK, adds: “As a bank that is looking to finance systemic transformation, we have clear ambitions to expand our portfolio into pioneering projects and financing structures to support decarbonisation solutions. HumanForest is a fantastic example of a company that is innovating shared modes of transport to tackle urban pollution while increasing access to affordable transport – thereby contributing to more liveable cities. It’s exciting to be able to support HumanForest to reach more people across London and beyond.”

HumanForest has doubled its user base in less than a year, growing 50% month-on-month during its first year of operations.