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

Clutch Overview

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

CanadaToronto

Website

clutch.ca

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Valuation

$402M (Feb 2025)

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

Clutch valuation by funding round
DateStageValuation
Feb 2025Series 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

Clutch funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Feb 2025Series DAltos Ventures (lead); Industry Ventures; FJ Labs; Flight Deck Capital; BMO Capital Markets$35M$402MClutch 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 2024Strategic investmentiA Financial Corp (lead)$10M--
Jul 2023Series 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 2023Series CFJ 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 2021Series BD1 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 2021Series AZhejiang Canaan Tech (lead); FJ Labs; Top Knot Ventures$16M--
Jul 2020SeedReal Ventures (lead); Azure Capital Partners; FJ Labs; Global Founders Capital; BrandProject$5M--
Dec 2018SeedEngage 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

Investors in Clutch by funding rounds participated
InvestorHQRoundsRoleFirst check
FJ LabsUnited StatesNew York City, NY5LeadJul 2020
BrandProjectCanadaToronto3ParticipantDec 2018
Real VenturesCanadaMontreal2LeadJul 2020
Global Founders CapitalGermanyBerlin2ParticipantJul 2020
Flight Deck CapitalUnited StatesSan Francisco, CA2ParticipantNov 2021
iA Financial CorpCanadaCanada1LeadJul 2024
Industry VenturesUnited StatesSan Francisco, CA1ParticipantFeb 2025
Azure Capital PartnersUnited StatesSan Francisco, CA1ParticipantJul 2020
Canaan PartnersUnited StatesUnited States1ParticipantNov 2021
Upper90United StatesNew York City, NY1ParticipantNov 2021
Engage Ventures--1ParticipantDec 2018
Zhejiang Canaan TechChinaHangzhou1LeadApr 2021
Altos VenturesUnited StatesSan Francisco, CA1LeadFeb 2025

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Clutch 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.

Public and private companies comparable to Clutch
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Dolls KillUnited StatesSan Francisco, CAPrivate--$400M-
UpwayFranceParisPrivate--$400M-
Franchise BrandsUnited KingdomUnited KingdomPublicly listed$191M$47M$405M2.5x
Omie & CieFranceParisPrivate--$406M-
WOW Skin ScienceIndiaBangalorePrivate--$410M-
High Templar TechChinaChinaPublicly 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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Franchise Brands$191M$47M2.6x2.5x10.5x9.9x
High Templar Tech$6M($38M)----
Scroll$569M$35M0.5x0.6x8.9x-
Oisix$1.6B$87M0.3x0.3x5.6x5.8x
BHG Group$1.1B$104M0.5x0.5x5.2x6.4x
Temple & Webster$427M$13M0.7x0.6x22.4x15.5x
Haypp Group$393M$19M1.2x1.0x25.0x21.7x
HelloFresh$7.8B$246M0.0x0.0x1.5x0.8x

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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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