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MaaS Global founder, Sampo Hietanen | Image credit: MaaS Global

Helsinki-based MaaS Global, a mobility-as-a-service platform and the company behind the Whim app, announced that it has raised €11M in extension of its Series B round of funding. 

Whim is an all-in-one mobility app where one can find all the transport modes they need.

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Initially, the company had raised €29.5M in its Series B round in November, 2019. The current round of funding brings the total investment to €65M.

Investors

The extension investment came from a combination of new and existing investors. The round saw Ferrovial and Tesi (Finnish Industry Investment) join the investor group. Existing investors NordicNinja and Mitsui Fudosan also participated.

Speaking on the development, Sampo Hietanen, CEO & founder of MaaS Global, says, “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.”

Use of the funds

The sudden halt of mobility during lockdowns caused by the Covid-19 pandemic had a massive impact on the transport sector globally. Maas Global intends to use the recently raised capital to expand its business model on a wider scale and reduce the short-term impact of Covid-19 on the business.

The fresh capital will also enable the company to increase its B2B and B2C service offering, expand to new markets, and to consolidate the MaaS industry. The company recently demonstrated this intent with the acquisition of Wondo, an urban mobility service provider, in May, 2021.

“Changing the way you move”

Founded in 2015 by Sampo Hietanen, MaaS Global aims to upgrade the service level of transportation by joining together public and private providers. It believes collaboration and integration of services will create a “seamless and compelling” travel experience for everyone, locally and globally.

To achieve that, the company created the Whim app. Using the app, users can journey where and when they want with public transport, taxis, cars, bikes, e-scooters and many other options. Currently available in several European and Asian markets, the company is preparing to launch Whim in new markets. More than 16 million trips have already been made via Whim.

Sustainability commitment

MaaS Global’s goal is to replace 1 million private cars with Whim subscriptions by 2030. The company says, “We believe that people’s need for mobility only increases in the future. But we also believe there is a more sustainable alternative to private motoring that delivers at least an equally hassle-free way to move around.”

“We work towards cities where there’s no longer a need to restrict driving but where people can choose a better, more sustainable alternative. This is why Whim exists.”