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Canada Drives

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The easiest place to buy or sell a car in Canada having delivered it to the doorstep in under 24 hours

Vancouver, CanadaFounded 2010Transportation
Valuation $250–500M Last recorded · 2022
Headcount 100–500 Current team size
Total funding $100–500M Disclosed equity funding
Unlock exact values This page shows ranges. Dealroom has the exact numbers for Canada Drives and the history behind them.

About Canada Drives

Canada Drives is a digital platform that simplifies the process of buying and selling cars. It operates in the Canadian automotive market, serving individuals who are looking to either purchase a new vehicle or sell their current one. The company's business model is centered around providing a hassle-free experience for its clients.

For those looking to buy a car, Canada Drives offers an online application for financing. Once approved, the company matches the client with a local dealership that can provide vehicle options within their approved budget. This eliminates the uncertainty and time-consuming process of seeking approval from various lenders.

On the other hand, for individuals wishing to sell their cars, Canada Drives offers a direct selling option. Sellers can receive an instant online offer that is valid for seven days. This service bypasses the traditional challenges of private selling, such as negotiating with potential buyers or dealing with lowball offers.

Canada Drives generates revenue through two primary channels. First, it earns a commission from the dealerships for every successful car purchase facilitated through its platform. Second, it profits from the resale of cars bought directly from sellers.

In summary, Canada Drives is a user-friendly platform that streamlines the car buying and selling process in Canada, providing a seamless experience for its clients and generating revenue through dealership commissions and car resales.

Source: Dealroom company data

At a glance

Status
Operational
Founded
2010
Headquarters
Vancouver, Canada
Employees
175
Open positions
None listed
Dealroom signal
67.8/100
Industry
Transportation
Sub-industry
Search, Buy & Rent
Sector
Transportation, Consumer Lending
Business model
Marketplace & ecommerce
Client focus
b2b, b2c

Funding history

4 recorded events

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
FundingOther financing Oct 2022 $10M — Undisclosed ↗
LATE VCOther financing Jun 2022 $29M $330M Goeasy ↗
Showing the latest 2 of 4 recorded eventsBook a demo for the full funding history →

Growth signals

Canada Drives website traffic

Latest recorded traffic for Canada Drives is 160K monthly website visits, down 20% over the last three months. Canada Drives's team declined 2.2% over the past year.

Latest monthly visits160K 3-month web change-20% 1-year team growth-2.2%
Summary metrics are public; monthly history is available with a demoCompare with peers →

Similar companies

Closest operating peers by Dealroom taxonomy

Company identity and context are open; selected comparison metrics preview what is available on the platform.

Showing 8 of the closest matchesCompare every metric →

Investments and acquisitions

Capital deployed

Recent portfolio relationships for companies that also act as investors or acquirers.

Investors

4 investors on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Series A3 investors entered at this stage

  • Anthos Capital
  • Honor Ventures
  • KAR

Series B and later1 investor entered at this stage

  • Goeasy
Team profiled 23 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 4 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
Workforce by country
5 countries with
team presence
🇨🇦 Canada94.9%
🇮🇪 Ireland2%
🇵🇭 Philippines1%
🇲🇽 Mexico1%
🇷🇺 Russia1%
5 countries shown

Market sentiment

Posts on X, past 7 days

An AI-synthesised read of the highest-engagement posts about Canada Drives on X, ranked by likes and reposts, corporate channels excluded.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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