What is Clutch?
Founded in 2016 and headquartered in Kettleby, Ontario, Clutch has fundamentally disrupted the traditional automotive retail model by offering a fully digital, end-to-end customer experience. By providing high-quality certified vehicles directly to consumers, the company eliminates the friction typically associated with dealership visits. Clutch operates at the intersection of e-commerce and automotive logistics, leveraging proprietary technology to streamline inventory management, financing, and vehicle delivery. Its market position is defined by a commitment to transparency and convenience, effectively capturing a growing demographic of digital-native car buyers who prioritize efficiency and trust in their purchasing journey.
How much funding has Clutch raised?
Clutch has raised a total of $315.5M across 6 funding rounds:
Multiple Rounds
$155.5M
Debt
$150M
Other Financing Round
$10M
Debt (2021): $40M with participation from Upper 90
Private Equity (2021): $20M led by Caanan Partners
Series A (2021): $15.9M supported by Zhejiang Canaan Technology Co.
Series B (2021): $79.6M featuring Canaan Partners, D1 Capital Partners, Upper 90, and Flight Deck Capital
Debt (2022): $150M backed by Neuberger Berman
Other Financing Round (2024): $10M with participation from iA Financial Group
Key Investors in Clutch
Upper 90
Upper90 is a hybrid investment firm that specializes in providing tailored debt and equity solutions to technology startups with predictable revenue or collateral.
Neuberger Berman
Neuberger Berman Group LLC is an independent, employee-controlled asset management company providing a broad range of global investment solutions to institutions and individuals.
iA Financial Group
iA Financial Group is one of Canada's largest insurance and wealth management organizations, offering comprehensive financial protection and wealth accumulation strategies.
What's next for Clutch?
Looking ahead, the strategic deployment of $10M is expected to accelerate Clutch's operational footprint and enhance its technological infrastructure. As the company moves beyond its initial growth phase, the focus will likely shift toward optimizing unit economics and expanding its service reach within the Canadian market. By leveraging the expertise of its institutional backers, Clutch is well-positioned to refine its supply chain logistics and deepen its integration with financial service providers. The company's ability to maintain a lean, digital-first model while scaling inventory will be critical in sustaining its competitive advantage against legacy automotive retailers and emerging digital challengers.
See full Clutch company page
