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- Clutch
Clutch Valuation, Funding & Investors
Clutch is valued at $402M as of February 2025.
Last Clutch valuation
$402M
Series D · Feb 2025
Last Clutch funding round
$35M
Series D · Feb 2025
Cumulative funding Clutch raised
$255M
across 8 funding rounds
Key investors in Clutch
FJ Labs
BrandProject
Global Founders Capital
Real Ventures
Flight Deck Capital
Canaan Partners
About Clutch
Clutch is an online used car retailer offering certified vehicles with home delivery across Canada. Toronto-headquartered, it curates inventory from auctions, provides 190-point inspections, and finances purchases through its app and website Clutch.ca. Founded in 2020, Clutch sells thousands of vehicles annually to consumers seeking transparent pricing and seven-day returns.
Founded
2017
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Valuation
$402M (Feb 2025)
Sectors
Clutch Valuation
Clutch is currently valued at $402M, based on its Series D in February 2025.
The $35M round was led by Altos Ventures, with participation from Industry Ventures, FJ Labs, Flight Deck Capital and BMO Capital Markets.
Clutch valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Feb 2025 | Series D | $402M |
Clutch Funding History
Clutch has raised a total of $255M across 8 funding rounds.
Clutch's first fundraising round was a $2M seed round in December 2018. The most recent completed round was a $35M Series D in February 2025.
Clutch funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Feb 2025 | Series D | Altos Ventures (lead); Industry Ventures; FJ Labs; Flight Deck Capital; BMO Capital Markets | $35M | $402M | Clutch is a Canadian online used car retailer that buys vehicles directly from consumers, reconditions them, and sells them through its platform. After challenges, it achieved strong growth in 2024 with revenue increasing 81% to $320 million and demonstrating profitability. The company hit a milestone of $1 billion in total cars purchased, with a current run rate poised to double that within a year, fueled by machine learning pricing improvements, marketing investments, and expansion to markets like Vancouver. In the first half of 2025, Clutch grew 70% year-to-date, marking its fastest growth period, amid recovery from prior hurdles. COO Stephen Seibel highlighted the shift to high-velocity scaling after nearly a decade to reach the $1B milestone. Competitive context includes navigating trade wars and economic pressures in online car sales. |
| Jul 2024 | Strategic investment | iA Financial Corp (lead) | $10M | - | - |
| Jul 2023 | Series A | - | $12M | - | The sources focus primarily on Clutch's later Series D round in January 2025, where the company raised CAD$50 million and achieved a valuation above CAD$575 million with reported 2024 revenue of $222.99 million CAD. |
| Jul 2023 | Series C | FJ Labs (lead) | $95M | - | Clutch is a Toronto-based online vehicle marketplace and the largest online car retailer in Canada, offering a seamless car buying and financing experience. In early 2023, amid challenging market conditions, Clutch's planned $95 million Series C round fell through, leading to a smaller $20 million round that drastically reduced its valuation by 97% to $15 million CAD. The company laid off 22% of staff in June 2022 and another 65% in early 2023. FJ Labs participated in later rounds, including the Series D. In February 2025, Clutch raised C$50 million in an oversubscribed Series D round led by Altos Ventures, with participation from Industry Ventures, BMO Capital Partners, Flight Deck Capital, FJ Labs, and angels. This all-equity round valued the company just above its previous peak of C$575 million, marking a significant recovery. Funds will support geographic expansion, new vehicle reconditioning facilities, and inventory growth to meet Canadian demand. |
| Nov 2021 | Series B | D1 Capital Partners (lead); Canaan Partners; Upper90; FJ Labs; Real Ventures; Global Founders Capital; BrandProject; Flight Deck Capital | $80M | - | Clutch is a Toronto-based vertically integrated online car retailing platform for pre-owned vehicles in Canada, offering customers the ability to browse, purchase, finance, insure, and receive home delivery of vehicles. The company operates in provinces including Alberta, British Columbia, New Brunswick, Nova Scotia, Ontario, and Prince Edward Island, with plans to expand to service 90% of Canadians by the end of 2023, focusing on major population centers. Clutch announced a $100 million CAD Series B equity financing round led by D1 Capital Partners, with participation from Flight Deck Capital, Canaan Partners, Upper90, Real Ventures, Global Founders Capital, BrandProject, and FJ Labs. The round closed earlier in 2021, aligning with the approximate November 16 date, and Scott Baxter from D1 joined the board. This followed a March 2021 raise of $60 million comprising $20 million equity and $40 million debt in a Series A. The Series B funds are intended to strengthen operations in existing markets, launch in new markets, expand product offerings in 2022, and grow the team by over 200 employees to more than 250 from about 160. D1 Capital brings expertise in online used car markets with investments in Carvana, Cazoo, and Kavak, as well as tech leaders like Stripe and SpaceX. Clutch aims to improve car-buying transparency, convenience, and ownership experience, including financial products to help rebuild credit, while scaling logistics with warehouses for next-day delivery. |
| Apr 2021 | Series A | Zhejiang Canaan Tech (lead); FJ Labs; Top Knot Ventures | $16M | - | - |
| Jul 2020 | Seed | Real Ventures (lead); Azure Capital Partners; FJ Labs; Global Founders Capital; BrandProject | $5M | - | - |
| Dec 2018 | Seed | Engage Ventures; BrandProject | $2M | - | - |
Who has invested in Clutch?
16 investors have backed Clutch across its funding rounds, including FJ Labs, BrandProject, Global Founders Capital, Real Ventures, Flight Deck Capital and Canaan Partners.
Lead investors include Altos Ventures, iA Financial Corp, FJ Labs, D1 Capital Partners, Zhejiang Canaan Tech and 1 other investor.
Clutch Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 5 | Lead | Jul 2020 | ||
| 3 | Participant | Dec 2018 | ||
| 2 | Lead | Jul 2020 | ||
| 2 | Participant | Jul 2020 | ||
| 2 | Participant | Nov 2021 | ||
| 1 | Lead | Jul 2024 | ||
| 1 | Participant | Feb 2025 | ||
| 1 | Participant | Jul 2020 | ||
| 1 | Participant | Nov 2021 | ||
| 1 | Participant | Nov 2021 | ||
| -- | 1 | Participant | Dec 2018 | |
| 1 | Lead | Apr 2021 | ||
| 1 | Lead | Feb 2025 | ||
This data is available for Pro users. Sign up to see all 16 Clutch investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialClutch Competitors
Clutch competitors include listed companies like Franchise Brands and High Templar Tech, and private ones like Dolls Kill, Upway, Omie & Cie and WOW Skin Science.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $400M | - | ||
| Private | - | - | $400M | - | ||
| Publicly listed | $191M | $47M | $405M | 2.5x | ||
| Private | - | - | $406M | - | ||
| Private | - | - | $410M | - | ||
| Publicly listed | $6M | ($38M) | $385M | - |
Clutch Public Comps
Clutch is still privately-owned, but its public comps include Franchise Brands, High Templar Tech, Scroll, Oisix, BHG Group, Temple & Webster, Haypp Group, HelloFresh, Nice One and Victorian Plumbing Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $191M | $47M | 2.6x | 2.5x | 10.5x | 9.9x | |||
| $6M | ($38M) | - | - | - | - | |||
| $569M | $35M | 0.5x | 0.6x | 8.9x | - | |||
| $1.6B | $87M | 0.3x | 0.3x | 5.6x | 5.8x | |||
| $1.1B | $104M | 0.5x | 0.5x | 5.2x | 6.4x | |||
| $427M | $13M | 0.7x | 0.6x | 22.4x | 15.5x | |||
| $393M | $19M | 1.2x | 1.0x | 25.0x | 21.7x | |||
| $7.8B | $246M | 0.0x | 0.0x | 1.5x | 0.8x | |||
This data is available for Pro users. Sign up to see all Clutch competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Clutch
| When was Clutch founded? | Clutch was founded in 2017. |
| Where is Clutch headquartered? | Clutch is headquartered in Toronto, Canada. |
| Is Clutch publicly listed? | No, Clutch is a private, VC-backed company. |
| What is Clutch's valuation? | Clutch was last valued at $402M in its Series D in February 2025. |
| How much funding has Clutch raised? | Clutch has raised $255M across 8 funding rounds. |
| What was Clutch's last funding round? | Clutch's last funding round was a $35M Series D in February 2025, led by Altos Ventures. |
| Who are Clutch's investors? | Clutch's investors include FJ Labs, BrandProject, Real Ventures, Global Founders Capital, Flight Deck Capital, iA Financial Corp, Industry Ventures, Azure Capital Partners, Canaan Partners, Upper90 and 6 others. |
| Which companies are comparable to Clutch? | Companies comparable to Clutch include Dolls Kill, Upway, Franchise Brands, Omie & Cie, WOW Skin Science and High Templar Tech. |
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