About Canada Drives
Canada Drives is a company based in Vancouver (Canada) founded in 2010 by Cody Green.. Canada Drives has raised $194.66 million across 4 funding rounds from investors including goeasy, OPENLANE and Anthos Capital. Canada Drives offers products and services including Pre-Approved Financing and Sell My Car. Canada Drives operates in a competitive market with competitors including Copart, CarGurus, Clutch, AutoTrader.ca and Curbie, among others.
- Headquarter Vancouver, Canada
- Founders Cody Green
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Sectors
Transportation, Automotive & Logistics
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Canada Drives Ltd
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$194.66 M (USD)
in 4 rounds
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Latest Funding Round
$7.28 M (USD), Series B
Oct 08, 2022
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Investors
goeasy
& 2 more
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Employee Count
Employee Count
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Products & Services of Canada Drives
Canada Drives offers a comprehensive portfolio of products and services, including Pre-Approved Financing and Sell My Car. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Online application for car loan pre-approval and dealership matching.
Direct platform to get cash offers and sell vehicles quickly.
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Funding Insights of Canada Drives
Canada Drives has successfully raised a total of $194.66M across 4 strategic funding rounds. The most recent funding activity was a Series B round of $7.28 million completed in October 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Series B — $7.3M
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First Round
First Round
(01 Jun 2019)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2022 | Amount | Series B - Canada Drives | Valuation |
investors |
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| Jun, 2022 | Amount | Series B - Canada Drives | Valuation |
investors |
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| Aug, 2021 | Amount | Series B - Canada Drives | Valuation | KAR Global |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Canada Drives
Canada Drives has secured backing from 3 investors, including institutional and venture fund investors. Prominent investors backing the company include goeasy, OPENLANE and Anthos Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Investment in innovative consumer and technology companies based in Santa Monica.
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Founded Year | Domain | Location | |
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Consumer lending and lease-to-own services are provided to individuals.
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Founded Year | Domain | Location | |
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OPENLANE is recognized for building digital marketplaces for used vehicles.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Canada Drives
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Canada Drives
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Canada Drives Comparisons
Competitors of Canada Drives
Canada Drives operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Copart, CarGurus, Clutch, AutoTrader.ca and Curbie, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Used and salvaged vehicles are offered via an online marketplace.
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| domain | founded_year | HQ Location |
Automotive vehicle listings are managed via an app-based platform.
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| domain | founded_year | HQ Location |
Used cars are purchased, reconditioned, and sold online through Clutch.
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| domain | founded_year | HQ Location |
Used vehicles are listed on a Canadian online portal.
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| domain | founded_year | HQ Location |
Used cars are traded via an online B2C marketplace platform.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about Canada Drives
When was Canada Drives founded?
Canada Drives was founded in 2010 and raised its 1st funding round 9 years after it was founded.
Where is Canada Drives located?
Canada Drives is headquartered in Vancouver, Canada. It is registered at Vancouver, British Columbia, Canada.
Who is the current CEO of Canada Drives?
Cody Green is the current CEO of Canada Drives. They have also founded this company.
Is Canada Drives a funded company?
Canada Drives is a funded company, having raised a total of $194.66M across 4 funding rounds to date. The company's 1st funding round was a Series B of $79.4M, raised on Jun 01, 2019.
What does Canada Drives do?
Canada Drives was founded in 2010 in Vancouver, Canada, as an online marketplace in the automotive sector. Users are linked with vehicle dealers and financing providers based on loan needs and credit evaluations. Cars can be purchased directly through the platform, where financing options are assessed and offered. Operations focus on facilitating accessible vehicle acquisitions across Canada.
Who are the top competitors of Canada Drives?
What products or services does Canada Drives offer?
Canada Drives offers Pre-Approved Financing and Sell My Car.
Who are Canada Drives's investors?
Canada Drives has 3 investors. Key investors include goeasy, OPENLANE, and Anthos Capital.