Zipcar invests in Wheelz, a peer-to-peer car-rental network focused on college-campus communities

TEL AVIV (MarketWatch) -- Zipcar Inc., the Cambridge, Mass., car-sharing network, led a $13.7 million Series A financing round for Wheelz Inc., a peer-to-peer car-rental network focused on college-campus communities. Wheelz, based in Palo Alto, Calif., enables students who have cars to lend them to those who need them for a fee. The lender earns money when he or she isn't using the car, and the renter gets flexible and affordable access to transport, the companies said in a Wednesday statement. Another investor in the financing round is Fontinalis Partners, the Detroit investment firm focused on transportation technology. The statement didn't specify the individual stakes that Zipcar and Fontinalis took in Wheelz.

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