KAR Global was among the strategic investors helping the online car retailer expand into new regions

Canada-based online car shopping and delivery service provider Canada Drives has wrapped up a C$100m ($78.5m) series B round from investors including used vehicle sales platform developer KAR Global.

Venture capital firm Honor Ventures and unnamed strategic investors also participated in the round.

Founded as a car financing company in 2010, Canada Drives launched its online car retail platform in 2020, starting in British Columbia. In May 2021, it expanded its e-commerce platform to Ontario with reported plans to enter…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
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