Zipcar making its European debut in London

A Zipcar on the streets of London


Zipcar Inc., the car-sharing service launched in 2000 with VW Beetles in Cambridge's Central Square, is making its European debut tomorrow -- in London.

"London is a beachhead for us to think about a pan-European strategy," chief executive Scott Griffith said. "We think there are about 50 markets worldwide where our business model can work."

Cambridge-based Zipcar has about 2,500 vehicles in Boston, New York, Chicago, and several other US locations, as well as in Toronto. It provide hourly or daily access at various rates to a wide variety of vehicles parked at convenient locations around the cities in which it operates.

As it looks to expand, Zipcar has closed a $25 million round of equity funding led by Greylock Partners, a venture capital firm with offices in Waltham. Other participants were Globespan Capital Partners and Benchmark Capital.
(By Chris Reidy, Globe staff)