HumanForest is based on a revenue model that sees users afforded a free 10-minute ride each day after receiving an advert from one of the bike-sharing company’s partners.
A partnership between e-bike sharing app HumanForest and digital wealth manager, Nutmeg is targeting young, sustainably-minded consumers to showcase its socially responsible investing portfolios.
Riders will receive an advert from partners before and after using a HumanForest e-bike. The model allows customers to ride for free for 10 minutes each day and costs £0.15 per minute thereafter.
Nutmeg becomes the first organisation to be announced in HumanForest’s roster of sustainably driven corporate partners, which are aligned with the firm’s objectives of improving air quality and reducing pollution. HumanForest previously partnered with the Financial Times, Whole Foods Market and Rude Health.
HumanForest’s bikes will launch in London in August 2021, after a trial period last year.
“Nutmeg is a perfect partner for us; enabling customers to invest in a cleaner, greener and healthier future for our planet,” said Agustín Guilisasti, founder and CEO of HumanForest.
“We share a strong crossover in our target audiences and hope this will be the start of a successful long-term relationship as we work together to re-forest London.”
The rental e-bikes will initially be available in the London boroughs of Islington and the City of London. Users will also be able to start and end their rides in the London boroughs of Camden and Kensington & Chelsea. More borough openings will follow shortly after the launch.
The company claims its bikes are built with sustainability “at their core”, using technology such as long-range, swappable batteries and initiatives to improve battery life and reduce waste.
HumanForest estimates that its bikes will facilitate up to 7,000 rides and avoid almost four tonnes of CO2 from being emitted into London’s air every day.
The company claims to have secured several partnerships with high-profile brands that align with its sustainable values, to be announced in due course.
“We share a strong crossover in our target audiences and hope this will be the start of a successful long-term relationship as we work together to re-forest London”
“Nutmeg has long felt that social responsibility-focused strategies are the future of the investment management industry, and we underlined this with the launch of our socially responsible investment portfolios in 2018,” said Grant Warnock, brand and customer marketing director, Nutmeg.
He added: “This focus, alongside our ongoing mission to make wealth management more accessible and help investors reach their financial goals, makes HumanForest a perfect partner for Nutmeg as it starts its own mission to help people travel sustainably.”