Forest Secures €31M to Turbocharge London's E-Bike Revolution: A 60% Boost in Sustainable Transport
By Freecker • 2026-04-28T14:00:38.644255
London's homegrown e-bike operator, Forest, has just secured a further €31 million in funding, raising its total Series B round to €46 million. This significant investment will be used to expand its operations, invest further in cycling infrastructure, and continue developing its technology, app, parking compliance, and safety features.
The funding round saw OKAI and several existing investors contribute €19 million in fresh equity, building on the €3.4 million equity announced last year. A further €11 million in asset-backed finance is being made available by existing lender Fintex Capital.
Jose Eluchans, CFO of Forest, stated that this investment reflects the company's ability to scale responsibly while delivering real value to London. Forest's objective is for every e-bike to generate more trips than any other shared bike on the street, justifying its existence in a city with competing uses for public space.
The implications extend beyond Forest, as the company's growth and investment in sustainable transport could reshape how Londoners commute. For everyday users, this could mean increased access to affordable and environmentally friendly transportation options. From an industry perspective, Forest's success could encourage other companies to invest in sustainable transport solutions.
The funding comes at a time when several other companies in the micromobility and electrification sectors have secured significant investments. London-based GIN e-bikes raised €215k in debt funding, while Berlin-based Nox Mobility raised €2 million in pre-Seed funding. These investments demonstrate the growing interest in sustainable transport solutions and the potential for companies like Forest to make a significant impact.
As a single-city operator, Forest is able to reinvest directly into its home city, expanding access to cycling and supporting the shift to cleaner, smarter transport. Founded in 2020, Forest is an environmentally sustainable micromobility platform that facilitates almost two million rides per month, with operations that are 'zero emission' since every bike and service vehicle is powered only by renewable energy.
The company's growth has been impressive, with a 100% year-over-year increase in its user base, now reaching 1.5 million users. Forest completes two million rides per month across 18 boroughs, making it one of the largest e-bike platforms in Europe. With this new investment, Forest is poised to continue its rapid growth and make a significant impact on London's transport landscape.
In the broader context, Forest's success could have a positive impact on the environment, reducing carbon emissions and promoting sustainable transport solutions. As the company continues to expand its operations and invest in new technologies, it will be interesting to see how it navigates the challenges and opportunities of the rapidly evolving transport landscape.
In conclusion, Forest's €31 million investment is a significant boost to London's e-bike revolution, and the company's commitment to sustainable transport solutions is a positive step towards reducing carbon emissions and promoting environmentally friendly transportation options.
The future of transport in London looks set to be shaped by companies like Forest, and it will be exciting to see how the company's growth and investment in sustainable transport solutions impact the city's transport landscape in the years to come.
Forest's success is also a testament to the growing demand for affordable and sustainable travel options, and the company's ability to meet this demand while reducing its environmental impact. As the company continues to grow and expand its operations, it will be important to monitor its progress and see how it addresses the challenges and opportunities of the rapidly evolving transport landscape.
In the end, Forest's investment in sustainable transport solutions is a positive step towards creating a more environmentally friendly and sustainable transport system in London, and the company's commitment to reducing carbon emissions and promoting sustainable transport solutions is a model that other companies can follow.
The funding round saw OKAI and several existing investors contribute €19 million in fresh equity, building on the €3.4 million equity announced last year. A further €11 million in asset-backed finance is being made available by existing lender Fintex Capital.
Jose Eluchans, CFO of Forest, stated that this investment reflects the company's ability to scale responsibly while delivering real value to London. Forest's objective is for every e-bike to generate more trips than any other shared bike on the street, justifying its existence in a city with competing uses for public space.
The implications extend beyond Forest, as the company's growth and investment in sustainable transport could reshape how Londoners commute. For everyday users, this could mean increased access to affordable and environmentally friendly transportation options. From an industry perspective, Forest's success could encourage other companies to invest in sustainable transport solutions.
The funding comes at a time when several other companies in the micromobility and electrification sectors have secured significant investments. London-based GIN e-bikes raised €215k in debt funding, while Berlin-based Nox Mobility raised €2 million in pre-Seed funding. These investments demonstrate the growing interest in sustainable transport solutions and the potential for companies like Forest to make a significant impact.
As a single-city operator, Forest is able to reinvest directly into its home city, expanding access to cycling and supporting the shift to cleaner, smarter transport. Founded in 2020, Forest is an environmentally sustainable micromobility platform that facilitates almost two million rides per month, with operations that are 'zero emission' since every bike and service vehicle is powered only by renewable energy.
The company's growth has been impressive, with a 100% year-over-year increase in its user base, now reaching 1.5 million users. Forest completes two million rides per month across 18 boroughs, making it one of the largest e-bike platforms in Europe. With this new investment, Forest is poised to continue its rapid growth and make a significant impact on London's transport landscape.
In the broader context, Forest's success could have a positive impact on the environment, reducing carbon emissions and promoting sustainable transport solutions. As the company continues to expand its operations and invest in new technologies, it will be interesting to see how it navigates the challenges and opportunities of the rapidly evolving transport landscape.
In conclusion, Forest's €31 million investment is a significant boost to London's e-bike revolution, and the company's commitment to sustainable transport solutions is a positive step towards reducing carbon emissions and promoting environmentally friendly transportation options.
The future of transport in London looks set to be shaped by companies like Forest, and it will be exciting to see how the company's growth and investment in sustainable transport solutions impact the city's transport landscape in the years to come.
Forest's success is also a testament to the growing demand for affordable and sustainable travel options, and the company's ability to meet this demand while reducing its environmental impact. As the company continues to grow and expand its operations, it will be important to monitor its progress and see how it addresses the challenges and opportunities of the rapidly evolving transport landscape.
In the end, Forest's investment in sustainable transport solutions is a positive step towards creating a more environmentally friendly and sustainable transport system in London, and the company's commitment to reducing carbon emissions and promoting sustainable transport solutions is a model that other companies can follow.