The company has teamed up with major UK benefits providers, enabling employees to join the scheme seamlessly through their existing company benefits platform.

This initiative comes in response to a marked increase in the usage of Forest's bikes, particularly among 'heavy' users, who cycle 6-21 times a month, and 'super-users', who use the service more than 21 times a month. These user groups have seen a fivefold and tenfold increase, respectively, year-on-year. This surge highlights a broader trend towards more active and communal forms of transportation among Londoners. Indeed, a recent survey indicated a 6.3% rise in cycling across London from 2022 to 2023, with a 20% increase since 2020.

The 'Cycle to Work with Forest' initiative is set to start this week, with Dexters being the first company to partner with Forest. Similar to other Cycle to Work schemes, employees can pay for their subscription through their salary, benefiting from a tax saving of up to 47%.

Forest's commitment to affordability is reflected in its development of the scheme, especially considering the significant rise in transport costs in London, including a 5.9% increase in TfL fares between March 2022 and March 2023. When compared to 44 other major cities worldwide, London's public transport costs are the highest relative to average local incomes.

With a monthly subscription of £29 for 'Cycle to Work with Forest', users can save £155 compared to monthly costs for the London Underground (zones 1-4) and £66 compared to London buses. The scheme also offers savings of £136 compared to the Cycle to Work ownership scheme for an e-bike, without the additional costs of maintenance, insurance, and storage that come with private ownership.

Jamie Richards, Forest Head of Commercial, said: “There are three winners here; our users who appreciate costs being kept low, companies who make national insurance savings and cities who get more people using active and sustainable mobility. We’re very proud to be offering the most affordable dockless scheme in London, in the midst of a cost-of-living crisis. In fact, one month using Forest’s Cycle to Work Scheme costs the same as only three days of trips on the London underground! What’s not to love?!”

Andy Shepherd, Dexters CEO, said: “Dexters is delighted to be partnering with Forest to offer our colleagues the opportunity to be part of their e-bike Cycle to Work scheme. Dexters has over 170 offices across London and with over 2000 colleagues we are sure our local teams will love this cost effective, healthy, and environmentally friendly way to travel to work.”