News Summary

Toronto-based online vehicle marketplace Clutch has secured a $50-million CAD Series D funding round, marking a significant recovery in its valuation, now back above its 2021 peak of $575 million CAD. The funding was led by Altos Ventures, with contributions from Industry Ventures, BMO Capital Partners, FJ Labs, Flight Deck Capital, and other undisclosed investors. Clutch CEO Dan Park highlighted that the company increased its revenue by 81% last year, achieving $320 million CAD and profitability. This financial success has enabled Clutch to strengthen its balance sheet and plan for future growth, including the potential to expand its operations back to Western Canada and build new reconditioning facilities across the country. The company aims to continue hiring, having already added over 70 new staff members this year, although it remains cautious about potential economic challenges such as tariffs affecting the Canadian market. Despite past setbacks, Clutch is optimistic about its future growth and stability.