12 nov 19

MaaS Global raises €29.5m in financing

More details have emerged of the successful financing round just concluded by MaaS Global. Speaking at the Fleet Europe Summit last Thursday, company CEO Sampo Hietanen (pictured) revealed a substantial investment by BP. 

Finland-based Mobility-as-a-Service pioneer MaaS Global has successfully concluded an investment round – raising a total of €39.5 million. That brings the company’s total financing to €53.7 million.  

Venture capital
The new investors in the company are:

  • BP Ventures, the venture capital subsidiary of energy company BP;
  • Mitsui Fudosan, a Japanese real estate company; 
  • Mitsubishi Corporation, the Japanese automaker; and
  • NordicNinja, a Japanese venture capital fund that specialises in Nordic companies. 

MaaS Global is primarily known for its app Whim, which offers subscriptions (and pay-as-you-go solutions) for city-based, multimodal transport.

Six million trips
Whim launched in Helsinki in 2017 and has since expanded into Birmingham, Antwerp and Vienna. Since its launch, Whim has facilitated more than six million trips. 

Current plans are for the service to expand into additional European cities in 2020, as well as into the U.S., Japan and Singapore. 

Tenfold increase
“These new investments give us the means we need to create success and expand into new markets,” says Mr Hietanen, who founded MaaS Global in 2015. 

The MaaS market is expected to increase more than tenfold in value over the coming decade, from €6.2 billion in 2020 to €97 billion by 2030. 

Authored by: Frank Jacobs