How Forest built London’s zero-emissions e-bike network.

The company

Forest launched in London as HumanForest, founded by Agustín Guilisasti, Caroline Seton and Michael Stewart, and rebranded to Forest in 2023. It set out to make city cycling both sustainable and genuinely affordable. Its signature is a daily allowance of free riding minutes, subsidised by advertisers rather than the rider, wrapped in a fleet designed to look like the trees it is named after.

It is the only shared e-bike operator in London to run a fully zero-emissions fleet: the bikes and the vans that service them all run on renewable energy. In 2022 Forest became a certified B Corporation.

The challenge

London is one of the most competitive and most regulated bikeshare markets in Europe. Growing here means winning borough tenders one by one, meeting each council’s data-sharing and parking rules, and adding vehicles, pricing, and riders fast, without the platform underneath becoming the thing that slows you down.

On Wunder Mobility

Forest scaled across London on Wunder Mobility’s API-first platform, wiring in the vehicles, pricing, and city data-sharing a fast-growing operator needs, and adding boroughs without re-platforming as it grew. Because the platform is API-first, Forest’s own team could keep building the rider-facing ideas that set it apart, like TreeCoins, its loyalty currency that rewards greener trips.

The results

Forest has grown from a few hundred e-bikes at its 2021 relaunch to more than 15,000 across most of London’s boroughs, with around 1.5 million registered riders and roughly two million rides a month. In 2026 it closed a £40 million Series B and won the sole-operator tender for Richmond, and it is now described as one of the first in the sector to reach profitability.