Clutch, the first Canadian online car retailing platform, has raised $7 million in Seed financing with its latest round led by Real Ventures. BrandProject, FJ Labs, Azure Capital Partners, and Global Founders Capital also took part in the round. Janet Bannister, Managing Partner of Real Ventures and founder of Kijiji.ca is set to be joining the Clutch Board of Directors.
At Clutch, customers can check out a large selection of high-quality vehicles at low prices and access an end-to-end online purchase experience which consists of financing, insurance, and at-home test drives and delivery.
Clutch is led by Dan Park and Steve Seibel who are highly interested in using more technology to make buying a car easier and more transparent. Park, CEO of Clutch stated, that the convenience of purchasing a car online has become more important than ever and he is excited to introduce better ways of buying cars to Canadians.
The company started out in 2016. It has operations in Halifax and has quickly become among the leading car retailers in Atlantic Canada. It plans to use the new capital to help scale its business in each of the cities that it operates, and also grow the team.
