The BIXI bike company says it hopes to recreate its Montreal success in Toronto after launching its bike-rental scheme in the city on Tuesday.
Michel Philibert, the company's communication director, said so far 1,100 Torontonians have purchase $95 yearly memberships.
He hopes the number will reach 5,000 by the end of the year.
Last year alone, he said, there were 3.3 million trips on rental bikes in Montreal – up from 1.1 million three years ago.
Philibert believes that success can be recreated in Toronto, which he says will benefit from its warmer climate.
"In Montreal we have to remove the bikes each fall because of the winters here," he said. "But in Toronto they will be available all year round."
Toronto will start with 1,000 bikes at 80 docking stations, as opposed to Montreal that boasts 5,000 bikes and 400 stations.
"Toronto, with its high density, will fall in love with the bikes and they will want more," he added.
Membership for yearly rental of the bicycles costs $95, a monthly membership is $40, a three-day rental costs $10, one day will run riders $5 and a thirty-minute ride is always free.
Councillor Denzil Minnan-Wong, told CTV Toronto's Zuraidah Alman, the bikes are not only affordable, but can benefit people's health and the environment.
"It's a great arrangement for people in the downtown core…they can find a bike anywhere in the city," he said.
In all the firm has 14,000 bikes all over the world in cities including Toronto, Montreal, Melbourne and Washington D.C..
