Mitsubishi Invests in an app that wants to replace Cars

Mitsubishi Corp. joined Toyota Financial services as an investor in a Finnish firm that seeks to offer an alternative to car ownership.

The Japanese automaker has bought shares in MaaS Global Oy, the Helsinki-based company behind the Whim mobile application, in its latest funding round, in its latest funding round that is set to be closed within a few weeks.

In Helsinki, MaaS Global offers its users a monthly subscription that includes unlimited public transport, 10-euro taxis over short distances, the use of city bikes and low-cost car rentals.