Canada Drives Raises Additional $10M CAD In Funding

Canada DrivesThe company, which is based in Vancouver, Canada, has raised $10M CAD to fund its online car-buying and delivery platform.

The identities of the backers have not been disclosed.

The funds will be used by the company to expand in new markets throughout Canada.

Canada Drives is led by Cody Green, the CEO. It offers an online vehicle shopping and delivery service in Canada. Customers can search for certified used cars, finance or pay in full, and then have their vehicle delivered to them. Canadians can choose to pay in full, finance or sign all documents and have their vehicles delivered the next day. Earlier this year, the company launched its “Sell My Car” feature, where customers are given a quote for their vehicle in under two minutes. Customers have the option to either sell their vehicle and get the money by direct deposit or trade it in for another one. Canada Drives will also pay off existing loans on the customer’s current vehicle.

Canada Drives launched its platform in 2020. Since then, it has grown from British Columbia to Ontario and Alberta to the most recent expansion in May, which was in Saskatchewan.



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