NEWS & VIEWS

Global private equity and venture capital news and research

Fontinalis Partners, Zipcar invest $13.7m in car-sharing company Wheelz

22 Feb 2012

US-based Fontinalis Partners has joined car sharing network Zipcar in a $13.7m series A funding round for peer-to-peer car sharing company Wheelz.

Wheelz has been designed specifically for university students to connect car owners with fellow academics needing transport.

Fontinalis founding partner Bill Ford said, “We founded Fontinalis to help shape the future of mobility

“We are committed to investing in entrepreneurs and accelerating the growth of breakthrough technologies and business models such as Wheelz to explore that future.”

Fontinalis focuses its investments in transportation technology, aiming to grow companies attempting to provide innovative technology solutions.

Zipcar is the world’s leading car-sharing network with approximately 673,000 members and 8,900 vehicles throughout the United States, Canada and the UK.

Scott Griffith, the company’s chairman and chief executive (pictured, with Wheelz founder Jeff Miller), said, “Based on our analysis and primary research, we believe P2P could expand the total addressable market for car sharing.

“We chose to make this investment because we believe that Wheelz has the right leadership, technology and business model to succeed in the emerging P2P space.”

Copyright © 2012 AltAssets

FUNDRAISING & INVESTOR RELATIONS


Legals & Terms of UsePrivacy Policy


AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: Zetland House, 5-25 Scrutton St, London EC2A 4HJ
Content is © AltAssets 2000-2014