Canada Drives

Canada Drives in its $100 million Series B funding round led by Honor Ventures

Client

Canada Drives

Value

$100 million

Service

Emerging and High Growth Companies

Date Closed

August 2021

Industry

Retail & Consumer Products

Lead Office

Vancouver

 

On August 18, 2021, Canada Drives announced the closing of its $100 million Series B funding round led by Honor Ventures with participation from KAR Global and other strategic investors. The funding will be used to expand Canada Drives’ service into new markets across Canada, grow its team from 500 to 700 team members and increase its inventory of certified used vehicles.

Canada Drives is a Vancouver-based online retailer of certified used vehicles specializing in its online car shopping and to-your-door delivery platform.

Osler, Hoskin & Harcourt LLP advised Canada Drives with a team consisting of Mark Longo, Jacques Du Plessis and Martin Smith (Emerging and High Growth Companies), Junhyung Lee (Corporate), Elizabeth Sale (Banking & Financial Services), Jennifer Lee (Tax) and Manveer Shergill (Student).