Clutch has raised $80 million in Series B funding led by D1 Capital Partners to enhance its online car-buying platform in Canada.

Information on the Target

Clutch, a Canadian tech startup, has secured $80 million in Series B funding, led by D1 Capital Partners. The company specializes in revolutionizing the online car-buying process, offering consumers a seamless digital experience. Clutch aims to simplify the traditionally cumbersome process of purchasing a vehicle by leveraging technology to provide a more transparent and efficient transaction.

With its innovative platform, Clutch allows buyers to explore a wide selection of vehicles and complete their purchases online, all from the comfort of their homes. This approach not only enhances consumer convenience but also addresses many of the pain points typically associated with car buying.

Industry Overview in Canada

The automotive industry in Canada is undergoing significant transformation, driven by technological advancements and shifting consumer preferences. Canadians are increasingly favoring onl