BP invests in city mobility start-up MaaS Global

BP Ventures is investing €10 million in MaaS Global, a provider of digital mobility software designed to make transport easier and smarter. The company’s innovative Whim app allows customers to access and connect on a single platform all available transport options in a city – from taxis, buses, bikes and rental cars, to ride-hailing services, shared e-scooters and e-bikes.

The investment in the Finnish-based start-up supports BP’s strategy of developing and providing mobility and transportation options in an increasingly smarter, digital world. 

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

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

“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.”

Roy Williamson, vice president Advanced Mobility

Sampo Hietanen, CEO and founder, MaaS Global said: “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.”

Daniela Proske, senior principal, BP Ventures added: “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.”

With over six million trips made since its launch in Europe in November 2017, MaaS Global’s Whim app encompasses a city’s entire transport system and allows users to search, book and pay for all their transport needs in one place. Customers can access all modes of transport through either a pay-as-you-go model or a monthly subscription.

After launching Whim in Helsinki, MaaS Global has made the service available in Birmingham, UK, Vienna, Austria, and Antwerp, Belgium.  BP’s investment will support expansion plans to roll out the app in additional cities across the globe, with immediate plans including Singapore and in the US. 

BP and Maas Global will also explore opportunities to integrate existing BP offers and technology into the platform.

• 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.

• BP Ventures was set up more than 10 years ago to identify and invest in private, high growth, game-changing technology companies, accelerating innovation across the entire energy spectrum. Since then, BP has invested over $500 million in technology companies across more than 50 entities with more than 300 co-investors.

• Venturing plays a key role in BP’s strategy to tackle the dual challenge of meeting the world’s need for more energy, while at the same time reducing carbon emissions.

• BP Ventures focuses on connecting and growing new energy business, focused on our core upstream, downstream and alternative energy businesses. In addition, it makes strategic equity investments in advanced mobility, low carbon and digital.

• Daniela Proske, senior principal, BP Ventures will take up a director seat on the board of MaaS Global.

Our most recent Annual Report and Form 20-F and other period filings are available on our website at www.bp.com, or can be obtained from the SEC by calling 1-800-SEC-0330 or on its website at www.sec.gov.