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Whim Raises Over €10 Million in Funding to Go Global

MaaS Global, the company responsible for the Whim app currently operating in Helsinki, has raised over €10 million in funding and will use these resources to expand internationally. Toyota Financial Services of Japan and its insurance partner, Aioi Nissan Dowa Insurance Company, were reportedly significant investors in this funding round [1].

Whim works by planning journeys for users and then allowing them to purchase a single ticket for all the necessary mobility services that will be a part of that journey. This embodies the concept of Mobility as a Service, the acronym for which the company is named after. While MaaS can be as simple as car rental, in this case, the Whim application allows users to take advantage of a more complete offer. Whim includes public transportation, taxis, and car rental. The app aims to deliver users from door to door and allows them to pay all at once for the entire mobility service, rather than separately for each different leg of the journey [2].

Whim has been operating successfully in Helsinki since late 2016. The company has partnered with more private transportation providers, such as taxi companies since it started [3]. 

 

Personal Comments

Of course, Whim is not the first company to offer a service like this – similar products have been offered across Europe, and in Canada as well. But now that Whim has the ability to expand to other countries, it will be very interesting to see how the company uses not only their newfound financial resources, but also new technologies, such as self-driving vehicles, and new business models, such as car-sharing between peers. So far the services that Whim offers are fairly ‘conventional’ in this regard, but if the company aims to be the first to dominate this market, they may need to branch out into more forward-thinking offerings.

 

Written by Ella Rebalski, RISE Viktoria

 

Sources

1. 2017-06-20. MaaS Global Raises Over €10 Million In Funding.

2. 2016-09-29. It Starts With a Single App.

3. 2017-05-19.Taksi Helsinki and Finnish Whim Mobility App to Revolutionize Helsinki Transport Scene