The Vancouver company is known for online auto financing but now sells cars in Ontario and British Columbia, and wants to offer its retail services to 80 per cent of the country by year’s end. The round was led by Honor Ventures, a new firm run by former SoftBank executive Jeffrey Housenbold, who will join Canada Drives’ board. (The Logic)
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The Vancouver company is known for online auto financing but now sells cars in Ontario and British Columbia, and wants to offer its retail services to 80 per cent of the country by year’s end. The round was led by Honor Ventures, a new firm run by former SoftBank executive Jeffrey Housenbold, who will join Canada Drives’ board. (The Logic)
Talking point: Canada Drives’ expansion comes amid a dramatic shift in auto retail, as the COVID-19 pandemic accelerated dealerships’ e-commerce adoption. The company said it will double its inventory of certified used vehicles, which are hot commodities amid a shortage of new cars. It also plans to add 200 employees to its 500-person team in the next year.
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