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BP invests in city mobility start-up MaaS Global
BP Ventures is investing €10mn in MaaS Global, a provider of digital mobility software designed to make transport easier and smarter. The company’s Whim app allows customers to search, book and pay for all their transport needs – from taxis, buses, bikes and rental cars, to ride-hailing services, shared e-scooters and e-bikes – on a single platform. Customers can access all modes of transport through either a pay-as-you-go model or a monthly subscription.
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.
According to Roy Williamson, Vice President Advanced Mobility, BP: ‘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 mobility-as-a-service (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.
BP Ventures has also invested $5mn in Finite Resources, parent company of Finite Carbon, a US-based forest carbon management company.
Founded in 2009, Finite Carbon has become the largest developer of forest carbon offsets in North America with more than 40 forest projects covering nearly 3mn acres. The company offers landowners a single-source solution for inventorying, managing, and monetising forest carbon assets.
The importance of forests was recognised in the Paris Agreement on climate change, which encouraged governments to support, including through results-based payments, the sustainable management and enhancement of forests as well as activities to reduce emissions from forest degradation and deforestation. Finite Carbon’s voluntary forest offsets programme, by providing financial rewards for carbon outcomes, supports these climate goals.