HumanForest raises £12M to double its fleet, put money into tech

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London-based electrical bike operator HumanForest has introduced a £12 million Collection A funding spherical, bringing its whole funds raised to £17 million. New funds embody a £5 million venture finance facility from sustainable finance specialist Triodos Financial institution UK, which can enable HumanForest to double the dimensions of its London e-bike fleet.

TheVentureCity’s founder and CEO Laura González-Estéfani and Cabify co-founder Vicente Pascual participated within the £7 million fairness funding, together with personal wealth administration corporations established by ultra-high internet price households. HumanForest plans to speculate the fairness part into its consumer app and promoting expertise platform. The micro-mobility operator mentioned its advert tech platform generates income that gives riders with 10 minutes of free biking day by day.

“This funding spherical has accelerated our growth, bringing reasonably priced and sustainable mobility to much more Londoners, while enhancing our capital-efficient method to progress,” mentioned Agustin Guilisasti, CEO and founder at HumanForest. “Deeply aligned with our dedication to a extra sustainable future, Triodos Financial institution is a pure companion for us and an necessary a part of our growth into Europe.”

HumanForest mentioned it has shortly grown market share since its launch 18 months in the past, reaching 300,000 new customers, finishing nearly 2 million journeys and buying licenses in 9 boroughs.

Amandine Tetot, head of venture finance at Triodos Financial institution UK, referred to as the startup “a improbable instance of an organization that’s innovating shared modes of transport to sort out city air pollution whereas rising entry to reasonably priced transport.”

“It’s thrilling to have the ability to help HumanForest to achieve extra folks throughout London and past,” Tetot mentioned.

Pascual of Cabify – who’s board director and an investor at HumanForest – mentioned he has labored with Guilisasti for greater than a decade.

“By way of its promoting tech platform and broad buyer enchantment, HumanForest is a second-generation micro-mobility firm on the cusp of worthwhile progress,” Pascual mentioned. 

Digital matching platform SDG Investments suggested the corporate and organized and positioned the asset-based transaction.

HumanForest closed a pre-Series A funding round in 2021.

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