MaaS Global adds strategic investment from Mitsubishi Corporation.

Finland Investments 04 September 2019
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MaaS Global, a Helsinki, Finland-based mobility-as-a-service (MaaS) provider, announced that it raised capital investment from Mitsubishi Corporation (MC), Japan's largest trading company.

Financial details were not disclosed. The deal was made through the acceptance of a third-party allocation of shares and is part of a larger round due to be announced in the following period.

Later edit: the funding round totals €29.5 million ($33 million) and included financial contributions from BP Ventures, Mitsui Fudosan and Nordic Ninja. BP Ventures is investing €10 million ($11.08 million) and will explore opportunities to integrate existing BP offers and technology into the MaaS platform.

MaaS Global, founded in 2015 and led by CEO Sampo Hietanen, developed Whim mobile application, which seeks to offer a viable alternative to car ownership. The company launched its mobility-as-a-service business in 2017, in Helsinki, against a monthly subscription that includes unlimited public transport, 10-euro taxis over short distances, the use of city bikes and cheaper car rentals. A subscription with unlimited rental cars, short-distance taxis and public transport costs 499 euros a month.

Whim is also available in Birmingham (UK) and Antwerp (BE).

Mitsubishi Corp. joined other Asian strategic investors, including Toyota Financial Services and Aioi Nissay Dowa Insurance. In total, MaaS raised almost $30M from outside backers.