Mitsubishi Invests in Mobility Service Startup

Mitsubishi Corp. has made an unspecified investment in MaaS Global Ltd., a Helsinki, Finland-based startup that specializes in mobility-as-a-service systems.

 

Formed in 2015, MaaS raised 24 million ($26 million) in previous funding rounds. Toyota Financial Services is listed as one of its investors.

MaaS Global’s Whim smartphone app allows users to search, book, coordinate and pay for multiple types of transportation from a single application. Options can include buses, trains, traditional taxis, rentals and car- and bike-sharing.

More than 100,000 people have downloaded Whim in Finland since the app debuted there in 2017. Users can choose from a variety of monthly subscription plans that range from 10 to €500, depending on the type and frequency of transportation options.

The startup recently expanded service to Belgium and England. Locations in Italy, Japan and Singapore are to be added this year, followed by a North American rollout in 2020. Mitsubishi aims to help MaaS expand throughout Asia.