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A Better, Faster and Easier Way to Buy a Car

Richmond, BC, BC, May 11, 2022--(T-Net)--Clutch, a Canadian national online used car retailer with corporate head offices in Toronto and additional head offices in BC, announced today in a blog post that it has raised $60 Million in new financing.

Clutch says it is Canada's largest online used car retailer, and delivers a seamless, hassle-free car buying and financing experience to drivers everywhere, and is "modernizing" the car buying experience..

The company announced that they have now raised $20 million in new equity financing led by Caanan, and $40 million in debt financing from Upper90, in order to expand their service to more Canadians.

Other investors in the equity financing include Upper90, Stephen Chau (former Head of Product at Uber Eats) and previous investors BrandProject, Real Ventures, FJ Labs, and Global Founders Capital.

"We are so thrilled to be partnering with Laura Chau from Canaan and welcoming her to our board of directors. We are very much aligned around building a long-term, sustainable business that positively impacts the communities in which we operate" said the company in its blog post. "We are very much aligned around building a long-term, sustainable business that positively impacts the communities in which we operate."

Today, Clutch is operating in Halifax, Toronto, Vancouver, and will soon be launching in other cities across the country.

Used car purchasers can shop thousands of used cars online, get the right one delivered to their door, and enjoy peace of mind with their 10-day money-back guarantee. You can even sell or trade in your car and get an instant cash offer. 

"We save consumers money by providing the best value on cars and a range of financing options; we save consumers time by offering online shopping and home-delivery; and we remove the stress by ensuring the quality of our vehicles through our 210-point inspection of every vehicle and our 100% money-back guarantee" said the company in its announcement."

"Clutch delivers an incredible customer experience including pre-approval for financing; online browsing of a wide selection of used vehicles, all of which have passed a 210-point inspection; free delivery to customers' homes; and a 10-day, money-back guarantee. We not only want to raise the bar for buying a pre-owned vehicle but also set a new standard for consumer retail more broadly."

About Clutch

Clutch is Canada's largest online used car retailer, delivering a seamless, hassle-free car buying and financing experience to drivers everywhere. Shop thousands of used cars online, get the right one delivered to your door, and enjoy peace of mind with our 10-day money-back guarantee. You can even sell or trade in your car and get an instant cash offer. How sweet is that? Clutch. Cars done right.