Brazil’s BNDES invests in car-sharing company Zazcar

Brazil’s national development bank BNDES has invested 7.5mn reais (US$3.38mn) in local car-sharing company Zazcar which is currently operating in Latin America’s largest city, São Paulo.

The investment has been made through environmental innovation fund Fim Inseed Fima, created by BNDES and managed by Inseed Fima.

The investment was made in exchange for a minority participation in the company, local business news daily Valor Econômico reported without detailing the percentage of the participation.

Founded in 2009, Zazcar has a fleet of 130 cars operating at more than 100 pickup and drop off points throughout the city. It is the first car-sharing company in Latin America, according to the company.

Photo (SOURCE: Creative Commons)