Finland-based mobility technology startup MaaS Global has raised €10m ($11m) in funding from investors including Toyota Financial Services of Japan, a subsidiary of carmaker Toyota, and insurer Aioi Nissay Dowa Insurance.
Founded in 2015, MaaS Global is named after the ‘mobility-as-a-service’ technology it is developing. The company plans to establish a mobility ecosystem that combines public and private transportation providers, enabling them to work together.
The funding will be used to expand Whim, a MaaS Global app that enables users to plan and book tickets for journeys using both public and private transport services, and to launch it in regional markets in the UK and Netherlands.
Toyota Financial Services CEO Riki Inuzuka said: “We are very pleased to partner with MaaS Global and work together on the development of multi-modal mobility solutions. 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.”
Yasuzo Kanasugi, president of Aioi Nissay Dowa, added: “We are delighted with this joint investment which represents a concrete step in the journey to create sustainable mobility solutions which both meet our customers’ expectations, and enhance their personal safety.”
MaaS had previously raised $2.5m in February 2016 from Finnish state innovation agency Tekes, public transport providers Transdev and Korsisaari, automaker Karsan, loyalty card provider Neocard, virtual queuing technology provider GoSwift, business automation company Good Sign, brokerage Delta Capital Force and payment services firm IQ Payments.