Forest Secures €15.3 Million to Expand E-Bike Fleet and Boost Sustainability
London-based micromobility operator Forest has raised €15.3 million in the first phase of its Series B funding round to introduce three new e-bike models and advance its sustainability-focused operations. The funding also includes an additional facility of up to €11.8 million in Asset-Backed Finance from Fintex Capital, solidifying the company's growth trajectory.

London-based micromobility operator Forest has raised €15.3 million in the first phase of its Series B funding round to introduce three new e-bike models and advance its sustainability-focused operations. The funding also includes an additional facility of up to €11.8 million in Asset-Backed Finance from Fintex Capital, solidifying the company's growth trajectory.
The investment, led by Sophie Batoua, Chief Investment Officer at Fintex Capital, was provided through the firm’s flagship UK fund, Fintex Private Debt. Speaking on the funding, Forest CEO and Founder Agustin Guilisasti emphasized its importance in supporting both safety measures and operational responsibility while enabling the company to scale effectively. He stated, “The Fintex investment allows us to accelerate our growth, while ensuring rider safety and maintaining responsible operations. We are also excited to widen access to our scheme and diversify our fleet by introducing three new e-bike types.”
Founded in 2020 by Agustin Guilisasti, Caroline Seton, and Michael John Stewart Ackermann, Forest has established itself as a key player in London’s micromobility market. The company facilitates over 1.2 million rides per month with a commitment to zero-emission operations. All e-bikes in its fleet and service vehicles are powered exclusively by renewable energy, reinforcing its environmental credentials.
The company plans to use the funds to launch ForestCargo, ForestDuo, and ForestKid, new vehicle types designed to broaden its appeal to diverse rider groups. By 2027, Forest aims to achieve gender parity among its users. The operator has also introduced virtual parking zones and incentivizes responsible parking to enhance urban mobility while addressing challenges associated with shared vehicle schemes.
The company reported strong financial performance in 2024, with tripled revenues and its first full year of profitability. Building on this momentum, Forest is preparing for expansion into additional cities in 2025. Its recent bid for the Paris bike-share tender reflects the company’s ambition to replicate its London success in other European markets, including one of the continent’s fastest-growing bike economies.
Robert Stafler, CEO of Fintex Capital, highlighted the strategic alignment between the two organizations, saying, “Today, more than ever, cities need smart, safe, and easy-to-use bike schemes. We are delighted to partner with a company whose operations are proven to be efficient, sustainable, and responsible, and we look forward to seeing Forest solidify its strong position in London whilst also unlocking new cities.”
By prioritizing sustainability, expanding its fleet, and leveraging technology to promote responsible usage, Forest continues to position itself as a leading advocate for affordable and eco-friendly urban transportation solutions. The new financing marks another step forward in its mission to reduce car dependency and create more accessible cities for all.