Zipcar Invests in Barcelona-Based Avancar

Zipcar, Inc. has announced that it has acquired a minority stake in Catalunya Carsharing S.A., a Spanish limited liability company known as Avancar, a car sharing operator working in Barcelona and its metropolitan area.

Zipcar, a Cambridge, MA-headquartered company operating a car-sharing service throughout 28 North American states and provinces as well as in London, UK,  participated in a round of financing along with the existing owners of Avancar.
Under the terms of the agreement, a Zipcar executive will join Avancar’s board and during the next year the company will have the option to increase its ownership stake.

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