The deal will see Nutmeg benefit from HumanForest’s unique advertising-led revenue model, whereby consumers receive an advert from partners before and after using an e-bike. The partnership will also enable Nutmeg to reach HumanForest’s user base of young, sustainability-minded consumers and showcase its socially responsible investing (SRI) portfolios.
The model allows customers to ride for free for 10 minutes each day and costs £0.15 per minute thereafter.
This is cheaper than competitor is Lime, whose e-bikes cost £1 to unlock and then £0.15 per minute thereafter. Lime also offers e-scooters, which are £1 to unlock and then £0.16 per minute thereafter.
This is the first organisation to be announced in HumanForest’s roster of sustainably-driven corporate partners, which are aligned with the firm’s objectives of improving air quality and reducing pollution. HumanForest previously partnered with the Financial Times, Whole Foods Market, and Rude Health.
The fleet of e-bikes will initially be available in the London Borough of Islington and the City of London. Users can also ride HumanForest bikes through the Boroughs of Camden and Kensington & Chelsea. Further boroughs will be announced in due course.
“Nutmeg is a perfect partner for us; enabling customers to invest in a cleaner, greener and healthier future for our planet. We share a strong crossover in our target audiences and hope this will be the start of a successful long-term relationship as we work together to reForest London" said Founder and CEO of HumanForest, Agustín Guilisasti.