HumanForest Raises $15 Million in Series A Funding Round
Summary
TheVentureCitys Founder and CEO, Laura Gonz\xe1lez-Est\xe9fani, and Cabify co-founder, Vicente Pascual participated in the equity round, along with global family offices including LarrainVial and Santa Cecilia. HumanForest has doubled its user base in less than a year, growing 50% month-on-month during its first year of operations.London, 28 April 2023: HumanForest, Londons most affordable and environmentally responsible eBike company, has raised \xa312m in a Series A funding round, bringing its total funds raised to \xa317m.The Series A includes a \xa35m project finance facility from sustainable finance specialist Triodos Bank UK and \xa37m equity investment from global family offices, Cabify executives, the founder of TheVentureCity and existing investors.The Triodos Bank-backed funding will enable HumanForest to double the size of its London fleet to meet growing demand for its services. The operators unique ad tech platform allows companies to advertise with purpose by providing HumanForest users with 10 minutes free cycling per day, driving the modal shift needed to decarbonise transport. "Martin Vial, Investment Analyst at LarrainVial Asset Management, said: "The passion and commitment of the founding team is infectious and has created an incredible culture which we back to succeed in this exciting and innovative industry. Deeply aligned with our commitment to a more sustainable future, Triodos Bank is a natural partner for us and an important part of our expansion into Europe.HumanForest was advised by SDG INVESTMENTS GmbH, who arranged and placed the asset based transaction.