Clutch gears up for expansion with $100 million CAD Series B round
Summary
Clutch, an online car retailing startup, got the green light for expansion with $100 million CAD Series B equity financing. It also holds a portfolio of some of the biggest global names in technology including Stripe, Instacart, Robinhood, GoPuff, Airtable, SpaceX, Toast, and Warby Parker. It faces substantial competition from Canada Drives, an online shopping and delivery startup that received its own $100 million CAD Series B round in August. And in January, Vancouver’s Autozen, an online marketplace for car owners, raised $4.2 million in seed financing from an undisclosed group of investors. “Decreased showroom traffic caused by COVID-19 shutdowns fast-tracked dealer adoption of remote selling capabilities,” noted the data analytics and consumer intelligence company.