MaaS Global, a Finnish mobility-as-a-service operator, has secured $32.7 million in funding. The investors included BP Ventures, Mitsui Fudosan, Mitsubishi Corporation and Nordic Ninja.
Helsinki, Finland, November 7, 2019 – the World’s first Mobility-as-a-Service (MaaS) operator MaaS Global, known for its mobility application Whim, announced today that its most recent investment round is worth €29.5M ($32.7M), bringing the company’s total investments to €53.7M ($59.5M). The new investors consist of BP Ventures, Mitsui Fudosan, Mitsubishi Corporation and Nordic Ninja. The earlier investors have also participated in the new investment round.
“We are thrilled to have acquired further expertise on board. With this large-scale experience and vision, we have all it takes to conquer the world by storm,” says Sampo Hietanen, CEO and founder of MaaS Global. “The new investments will help us continue scaling the business to new continents.”
With over six million trips made since its launch in Europe in November 2017, Whim is the first all-inclusive MaaS solution commercially available on the market. The mobile app enables route-planning, booking, ticketing and payment options combining various methods of transportation, such as railways, buses, taxis and rental cars.
Helsinki-based MaaS Global plans to expand Whim’s reach to a number of new markets including European cities, Japan, Singapore and North America in 2020.
The new investors were attracted by both the existing service and its global growth potential. The MaaS industry is forecast to grow to a revenue of approximately $500 billion by 2030.
“The MaaS Global team is at the forefront of a tech-enabled mobility evolution – from having to own a vehicle to being able to easily connect and use all available forms of transport. Our collaboration is a great example of BP’s vision for the future of transportation, mobility and integrated cities,” says Roy Williamson, vice president of Advanced Mobility at BP.
“We are excited to be on this journey with MaaS Global to change the world of transport towards a digital and sustainable future. The MaaS market is expected to grow rapidly as both consumers and cities are searching for smart solutions to ease everyday life and reduce pollution,” says Kyoya Kondo, General Manager for investment, business creation and digital strategy in the Automotive and Mobility Group, Mitsubishi Corporation.
About MaaS Global & Whim
MaaS Global is the world’s first true Mobility-as-a-Service (MaaS) operator with its award-winning Whim app, which provides users with all a city’s transport services in one app. Whim allows users to journey where and when they want with public transport, taxis, cars, and many other options, all for a single monthly subscription. Whim has revolutionized users’ travel habits, in favor of circular modes. MaaS Global was founded in 2015 and its headquarters are in Helsinki, Finland. The Whim app is currently available in Helsinki Finland, Birmingham UK, Antwerp Belgium and Vienna Austria. The company’s investors include the Aioi Nissay Dowa Insurance Company, BP Ventures, Denso International Europe, Karsan Otomotiv, Mitsubishi Corporation, Mitsui Fudosan, Nordic Ninja, Swithcom Teknoloji, Toyota Financial Services, the Transdev Group and Veho; the total amount of investments being €53.7M.
About Mitsubishi Corporation
Mitsubishi Corporation is a globally integrated business enterprise that is comprised of 10 business groups: Natural Gas, Industrial Materials, Petroleum & Chemicals, Mineral Resources, Industrial Infrastructure, Automotive & Mobility, the Food Industry, the Consumer Industry, Power Solutions and Urban Development. The Mitsubishi Corporation was established in 1954 and its headquarters are in Tokyo, Japan. The Company’s President and CEO is Takehiko Kakiuchi.
About BP Ventures
BP Ventures was set up more than 10 years ago to identify and invest in private, high growth, game-changing technology companies, accelerating innovation across the entire energy spectrum. Since then, BP has invested over $500 million in technology companies across more than 50 entities with more than 300 co-investors. Venturing plays a key role in BP’s strategy to tackle the dual challenge of meeting the world’s need for more energy, while at the same time reducing carbon emissions. BP Ventures focuses on connecting and developing new energy businesses, focusing on its core upstream, downstream and alternative energy businesses. In addition, it makes strategic equity investments in the areas of advanced mobility, low carbon and digital innovations. Daniela Proske, Senior Principal at BP Ventures will be taking up a director’s seat on the board of MaaS Global.