City transportation app Whim raises €29.5m from investors including BP

Ben Heathcote

In App Deals. November 11, 2019

MaaS Global, the Finland-based mobility-as-a-service operator behind global city transportation app Whim, has secured funding of €29.5 million ($32.7m) from a string of new investors including BP Ventures. Mitsui Fudosan, Mitsubishi Corporation and Nordic Ninja, along with existing backers, also participated in the new round.

With over six million trips made since its launch in Europe in November 2017, Whim’s mobile app provides users with all of a city’s transport services in one app. It enables route-planning, booking, ticketing and payment options combining various methods of transportation, such as railways, buses, taxis and rental cars.

“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.”

Roy Williamson, vice president of advanced mobility at BP, added:

“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.”

The MaaS industry is forecast to grow to a revenue of approximately $500 billion by 2030. The new investors were attracted by both the company’s existing service and its global growth potential.

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.