Founded in 2022 by Ukrainian entrepreneur Marina Vlasenko and Indian entrepreneur Rahul Pushp, GIN e-bikes started as an affordable direct-to-consumer e-bike brand before pivoting to a subscription rental model under the PLUTO brand in 2024–2025. The service bundles a monthly bike rental with maintenance, accessories, and insurance, targeting gig-economy workers and everyday commuters. Bikes are sold on the secondary market after a 12-month rental cycle, adding a circular-economy revenue stream. The pilot currently counts 37 active subscribers, each generating about £158 in monthly revenue, and management expects 100 active users to translate into roughly £200,000 in annual recurring revenue. The firm will use newly raised capital to purchase 160 additional bikes and broaden its London footprint. Longer-term, GIN e-bikes plans to raise up to £1 million in 2026 to scale its fleet to 1,000 bikes and enhance operational infrastructure. The company’s immediate financial position is supported by secured debt, and its business model emphasizes predictable subscription income complemented by secondary bike sales.

Total raised

$1M

Funding rounds

3

Latest round

Debt Financing

Latest activity

Jan 2026