Foot Anstey advises Forest on £10M investment from Fintext Capital as part of £13M financing round

• Firm advises Europe's most innovative shared bike operator, Forest, on a significant funding round to drive its expansion and improve access to its e-bikes.

National law firm Foot Anstey has advised shared bike operator, Forest, on securing a £10 million project financing facility from Fintex Capital as part of its Series B funding round.

Forest, a certified B-Corp company, completed over 10 million e-bike trips in 2024. Its operations are ‘zero emission’, with every bike in its fleet, as well as all service vehicles, certified to be powered only by renewable energy.

The Foot Anstey team was led by Banking and Finance Partner Emma Earp, who was assisted by Associate Catherine Perry and Trainee Solicitor Elin Bebbington. The team advised Forest on the £10 million project financing facility provided by Fintex Capital, together with the associated security, intercreditor and project arrangements.  

Backed by this new financing, Forest will expand its existing fleet by launching three new types of e-bikes and widening access to shared schemes. With these new vehicle types, the company is aiming to achieve gender parity among its riders by 2027.

Commenting on the deal, Emma said: "It has been a pleasure advising Forest on this investment, which will support the expansion of its sustainable e-bike fleet and enhance access to shared mobility. This funding is a key step in Forest's growth, reinforcing its commitment to zero-emission transport and innovation in the sector. It has been fantastic working with the Forest team, and we look forward to seeing the company's continued impact."

Jose Eluchans, member of the founding team and Forest CFO, said: "The debt facility marks an important milestone for Forest, unlocking further growth and our ongoing expansion. The Foot Anstey team provided excellent support on the transaction, and we look forward to working with them in the future."