BP Ventures backs Mobility-as-a-Service Finnish start-up with €10 million investment

BP Ventures backs Mobility-as-a-Service Finnish start-up with €10 million investment

(PRESS RELEASE) LONDON, 7-Nov-2019 — /EuropaWire/ — BP Ventures invests €10 million in MaaS Global. The Finnish-based start-up is a provider of digital mobility software designed to make transport easier and smarter. MaaS Global’s innovative Whim app provides users to access and connect all available transport options in a city on a single platform – from taxis, buses, bikes and rental cars, to ride-hailing services, shared e-scooters and e-bikes.

The investment supports BP’s plans of developing and providing mobility and transportation options in an increasingly smarter, digital world.

“Whim is super convenient. It offers users a single digital key that unlocks the full spectrum of city transport. It takes the hassle out of planning travel, taking on board users’ preferences and connecting and booking their ideal transport choices.

“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,” commented Roy Williamson, vice president Advanced Mobility at BP.

As the market shifts towards a model of on-demand access to both public and private transport networks, the ‘Mobility-as-a-Service’ (or MaaS) industry is expected to grow significantly in revenue by 2030.

“The world of transportation is going through disruption that is technology-enabled but, fundamentally, demand-driven. To us, having BP on board as a strategic investor is a real asset. BP’s global reach, its long experience in serving customers and technical expertise will be invaluable as we continue to build the ecosystem required to offer a seamless mobility platform to our users,” said Sampo Hietanen, CEO and founder, MaaS Global.

“This investment further strengthens our activities in the area of advanced mobility and provides potential growth and collaboration opportunities for MaaS Global with our existing portfolio companies such as FreeWire, PowerShare, Zubie and Drover.

“The investment is a first for us in the on-demand mobility space and we look forward to working closely with MaaS Global to help provide future transport options for a low carbon world,” said Daniela Proske, senior principal, BP Ventures.

MaaS Global’s Whim app was launched in Europe in November 2017, since then over six million trips searched, booked and paid for all in one place. The app encompasses a city’s entire transport system, giving customers access to all modes of transport through either a pay-as-you-go model or a monthly subscription.

MaaS Global has introduced Whim in Birmingham, UK, Vienna, Austria, and Antwerp, Belgium following its launch in Helsinki. Immediate expansion plans to roll out the app in additional cities across the globe, including Singapore and in the US, will be supported by BP’s investment.

Opportunities to integrate existing BP offers and technology into the platform will also be explored.

About MaaS Global

MaaS Global is the world’s first true “Mobility as a Service” operator. Through its “Whim” smartphone app, the first commercially available, all-inclusive MaaS solution, MaaS Global offers mobility services that enable route-planning, booking, ticketing and payment options combining various methods of transportation, such as railways, buses, taxis and rental cars.

MaaS Global’s strengths include the sophisticated technologies it used to develop Whim and its creative, monthly subscription packages.

To date, more than 180,000 people have downloaded the Whim app.

MaaS Global plans to expand Whim’s reach with pilot plans in a number of markets including Singapore, Japan and North America.

Its other investors this year include Mitsubishi Corporation and Toyota Financial Services.

For more information, please contact:

BP press office, London: +44 (0)20 7496 4076, bppress@bp.com

Kekst CNC, London: +44 (0)20 3219 8820, bpventures@kekstcnc.com

SOURCE: BP p.l.c.