Toloka.vc, a Ukrainian funding syndicate, has introduced an funding of €215k in British electrical bike firm GIN e-bikes, which is scaling a subscription-based electrical bike rental service in London underneath its PLUTO model.
The funding was structured as a two-year secured mortgage with an annual rate of interest of 12%, backed by the corporate’s electrical bike fleet. The contemporary capital will probably be used to buy 160 new electrical bicycles and develop PLUTO’s subscription providing throughout London. The startup targets 100 lively subscribers inside six months, constructing on sturdy early traction.
Based in 2022 by Ukrainian entrepreneur Marina Vlasenko and Indian entrepreneur Rahul Pushp, GIN e-bikes initially launched as a direct-to-consumer electrical bike model centered on the under-£1,000 value section. In 2024–2025, the younger firm pivoted to a subscription-based electrical bike rental mannequin, primarily serving couriers, gig-economy staff, and concrete commuters.
PLUTO’s subscription consists of month-to-month rental, upkeep, equipment, and insurance coverage. After finishing a 12-month rental cycle, bikes are bought on the secondary market, creating
a further income stream and supporting a round financial system strategy.
The PLUTO pilot presently serves 37 lively subscribers, with a mean month-to-month income of roughly £158 per bike, together with add-on providers. Reaching 100 lively customers would
generate an estimated £200,000 in annual recurring income (ARR).
Future Development Plans: In 2026, GIN e-bikes plans to lift as much as £1 million to scale its fleet to 1,000 electrical bikes and additional develop its operational and repair infrastructure throughout London.
Toloka.vc is an funding syndicate uniting entrepreneurs and personal buyers centered on early-stage and growth-stage expertise companies. In November 2025, the syndicate invested in ALICE Applied sciences, a Silicon Valley-based startup, marking its eighth funding of the 12 months. The syndicate was co-founded by Oleksandr Kolb, entrepreneur and founding father of Promodo, Taras Kyrychenko, former CEO of Pravex Financial institution and supervisory board member of Nova Poshta, and Igor Shoifot, enterprise capitalist and accomplice at TMT Investments.
