Shared bike operator Forest secures £13m in funding

Forest introduced virtual parking bays before they were mandated and incentivises responsible parking by its users. With the new funding, the company is making further advancements in these areas, with enhanced parking compliance and user behaviour technology.

It already completes more than 1.2 million trips per month and 2024 was a record year for the company as revenues tripled and a first full year of profitability was delivered. The company’s growth is set to continue at pace with plans to expand to new cities in 2025.

“We remain committed to long-term partnerships with cities and public transport providers to realise our vision of affordable, sustainable mobility for all”

“The Fintex investment allows us to accelerate our growth, while ensuring rider safety and maintaining responsible operations,” said Agustin Guilisasti, Forest CEO and founder.

“We are also excited to widen access to our scheme and diversify our fleet by introducing three new e-bike types. We remain committed to long-term partnerships with cities and public transport providers to realise our vision of affordable, sustainable mobility for all, and with this financing, we are making excellent progress towards that goal.”