Toyota puts coin in MaaS Global
Finnish MaaS Global, the developer of the concept of Mobility as a Service (MaaS), has raised over 10 million euros in a recent funding round.
The round was led by Toyota Financial Services of Japan and its insurance partner Aioi Nissay Dowa Insurance Company. The investment matches both companies’ aim to make mobility services a part of their business as interest in car ownership declines in big cities.
“We are very pleased to partner with MaaS Global and work together on the development of multi-modal mobility solutions,” says Riki Inuzuka, CEO of Toyota Financial Services. “The vision and business model of MaaS Global marries with Toyota’s strategic objective to serve the mobility needs of our current and future customers.”
With the investment, MaaS Global’s Whim app will scale its services to international MaaS markets. The app was recently launched in Helsinki, and this year it will also go live in the West Midlands in the UK and in the Amsterdam area in the Netherlands. In the next five years, the company intends to expand its services to all forms of transport worldwide.
“Cooperation with one of the best-known brands in the world is extremely positive news for us,” notes Sampo Hietanen, founder and CEO of MaaS Global. “Toyota’s global network, high-quality R&D and genuinely customer-oriented culture will give our company a strong lead as it grows towards being the largest player in its sector.”
MaaS Global, being the world’s first mobility operator, was established in April 2015. The Whim app enables users to plan journeys and purchase various mobility services through a single service.