HumanForest has successfully completed its crowdfunding campaign, raising £1.27 million.
“I would like to offer a warm welcome to HumanForest’s 523 new shareholders,” said Agustin Guilisasti, CEO and founder. “It gives me and the whole team at HumanForest great excitement to know that so many people from all around the world support HumanForest in its mission to reforest the world, one e-bike at a time!”
These new funds will be used to expand the fleet to 1,500 e-bikes and relaunch London-wide in spring 2021, before expanding internationally in 2022.
Caroline Seton, head of growth, said: “Our business model is unique and we believe this is one of the key reasons that we’ve had such a successful crowdfunding campaign. Investors recognise that HumanForest is poised for strong future growth both in terms of revenue and user uptake.
“Our trial was a positive indicator that HumanForest is onto something great – 10,000 users joined our community and three amazing companies patterned with us; The Financial Times, Rude Health and Whole Foods Market. With these funds, HumanForest is ready to return at scale!”
HumanForest will be announcing the names of its corporate partners and the new e-bike model in early 2021 ahead of its spring relaunch.