On June 27, 2022, Canada Drives announced it had entered a strategic commercial agreement and received a minority convertible equity investment of $40 million from goeasy, one of Canada’s leading non-prime consumer lenders. Through this new strategic partnership, goeasy’s automotive and point-of-sale financing brand, LendCare, will become a preferred non-bank financing provider within Canada Drives’ online automotive retail platform. The partnership and technology integration with goeasy will further enable Canada Drives to grow their inventory, enhance their platform, and improve their financing programs for Canadian consumers.
Canada Drives is the largest 100% online car shopping and to-your-door delivery platform available in Canada.
Osler, Hoskin & Harcourt LLP advised Canada Drives with a team consisting of Mark Longo, Jacques Du Plessis, Martin Smith (Emerging & High Growth Companies), Simon Hodgett (Technology), and Michelle Wong (Articling Student).