Leading MaaS platform to continue a strong focus on monetisation of existing user base and expansion to new markets
MaaS Global, the world’s leading mobility-as-a-service platform and the company behind the award-winning Whim app, is moving into its next phase of growth and development with the successful €11 million extensions of its Series B financing round from a combination of new and existing investors.
MaaS Global has developed a multimodal platform that enables subscriptions and true mobility-as-a-service. The company is on a mission to transform the global transport sector, which is expected to boom to € 7.6 trillion by 2030. It will provide sustainable mobility in the cities around the world and freedom of mobility for the people. Whim is currently live in several European and Asian markets and preparing for new launches.
“We are very proud of the strong investor support received as part of this extension round. This provides us with further credibility in the MaaS scene globally, strengthens our position as the industry forerunner of MaaS and gets us ready for further scaling”, says Sampo Hietanen, CEO and Founder of MaaS Global.
The new investment will help MaaS Global to continue proving the long-term viability of its MaaS business model on a wider scale, and mitigate the short-term impact of COVID-19 on the business. The sudden halt of mobility during the pandemia had an obvious impact on the transport sector globally. MaaS Global has been able to respond to exceptional circumstances while continuously developing new services. The new funding will also enable MaaS Global to increase its B2B and B2C service offering, expand to new markets and play an active role in the consolidation of the MaaS industry as recently demonstrated by the acquisition of Wondo announced in May 2021.
The funding round saw Ferrovial and Tesi (Finnish Industry Investment) join the investor group, as well as participation from existing investors including NordicNinja and Mitsui Fudosan. This additional financing supplements the initial €29.5 million Series B closing announced in November 2019, and brings the total investment raised to date to €65 million.
NOR Capital acted as a financial advisor to MaaS Global.
Press inquiries: Johanna Sippo, Head of Communications, email@example.com
About MaaS Global and Whim
MaaS Global is the world leader in the field of Mobility-as-a-Service (MaaS) and the company behind the award-winning Whim app. Users can journey where and when they want with public transport, taxis, cars, bikes, e-scooters and many other options.
Whim has revolutionized users’ travel habits, in favour of sustainable modes.
MaaS Global was founded in 2015 and is headquartered in Helsinki, Finland. The company is backed by several strategic and financial investors such as Ferrovial, Mitsui Fudosan, NordicNinja, Tesi, BP Ventures, Mitsubishi Corporation, Toyota Financial Services, Swiftcom, Karsan, Transdev, Aioi Nissay Dowa, Denso and Veho. The Whim app is available on the Google Play store and Apple App Store.