World’s first Mobility-as-a-Service operator MaaS Global Completes €29.5M Funding Round

Published : Friday, November 8, 2019, 1:47 pm
ACROFAN=Seunghee Shin | | SNS
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.

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