Pedal. Purpose. Profit. Progress. Forest's CEO Agustin Guilisasti helped build Spain's first unicorn. Now he's reshaping London's micromobility scene - one affordable e-bike at a time.
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When Agustin Guilisasti arrived in London in 2019, the city's micromobility scene didn't quite add up. Prices were high, quality was patchy, and sustainable transport options weren't keeping pace with the needs of a modern capital. Drawing on his experience as part of the founding team at Cabify - Spain's first unicorn - he launched Forest, a shared e-bike service now serving 1.5m Londoners. Five years in, Forest operates across 18 boroughs and is pushing for unified regulation to help cycling become a safer, more accessible choice for everyone. Entrepreneur UK finds out more...
What inspired you to start your business?
I have worked in micromobility my whole career and was part of the founding team behind the ride-hailing company, Cabify - Spain's first Unicorn company. My experience at Cabify proved that there was an appetite in major cities for more flexible and sustainable ways to travel and move around - and importantly, it taught me what it takes to start and expand a business sustainably.
When I moved to London in 2019 to complete a Master's in Data Science, it immediately struck me that the city's micromobility options were both limited and expensive. The quality just didn't match the needs of a modern, sustainable city.
This inspired me, together with my co-founders Caroline Seton and Michael Stewart, to launch Forest - a London-focused shared e-bike service designed to give people a cleaner, more affordable, and healthier way to get around. Our mission from the start has been to help Londoners choose transport options that cut congestion, reduce emissions, and encourage active lifestyles. Five years later, we now operate in 18 boroughs across the capital, providing over 1.5 million customers with a more affordable and sustainable way to travel in London.
What was your biggest challenge and how did you overcome it?
The biggest challenge we, and the wider industry, face in London is regulation. The current situation is complicated, with the patchwork approach leaving riders confused about what they can and can't do. This is why we are calling for more unified regulation in London, to ensure there is both the infrastructure and rules in place to create a system that works for everyone, and helps give riders the confidence to cycle safely and responsibly.
How did you secure your initial funding?
My time at Cabify meant that I had built up good relationships and a solid network, many of whom were excited about the prospect of Forest and really believed in our vision for London. These early investors have played a crucial role in Forest's growth and have supported us with further investment since. Having a team that truly understands and is bought into our mission has driven the company's positive momentum, which I am confident will continue as we look to the future. This being said, starting a business from square one, in a completely new city on the other side of the world, is not without its challenges! It really taught me the value of the networks and contacts you build throughout your career.
How do you handle failure or setbacks?
Failure is inevitable; it is impossible to get every decision right every time. The important thing is not to dwell on these moments. It's about accepting it, learning from it as quickly as possible and then moving forward. Instead of thinking about what could have been, at Forest, we focus on our long-term goals. We are committed to continuing our growth, and delivering the sustainable, accessible and affordable transport options that our cities are looking for - and need.
What advice would you give to someone hoping to scale up their UK based business to an annual revenue to £5m?
Define what makes you different to your competitors and what your purpose as a business is - then focus on building and delivering that. At Forest, that purpose has always been rooted in sustainability and affordability. Scaling a business is not about constantly reinventing the wheel; it's about staying true to your founding vision and refusing to compromise on the principles that matter most.
