Online car retailer Clutch nabs C$60m, Canaan leads equity deal

Clutch, a Toronto-based online car retailing platform, has secured C$60 million in new financing.

Clutch, a Toronto-based online car retailing platform, has secured C$60 million in new financing, according to a Blog post. The deal included C$20 million in equity funding led by Canaan Partners, and C$40 million in debt funding provided by Upper90. Other investors in the equity deal included Upper90, Stephen Chau and prior investors BrandProject, Real Ventures, FJ Labs and Global Founders Capital. Canaan’s Laura Chau will join the board.

Read Clutch’s Blog post here.