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On the TechTO stage
Managing Hypergrowth
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Clutch Fills Up the Tank with $60M
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About
Stephen Seibel founded Clutch in 2016 after his wife's bad dealership experience buying a used car, and began selling inspected vehicles online from Halifax in 2017. In September 2019 he recruited Dan Park — the ex-VC who ran Uber Eats Canada from Toronto's first-ever order to nearly a million deliveries a week — as CEO, and headquarters moved to Toronto. Clutch is vertically integrated: it buys every car into its own inventory, reconditions and certifies it, then sells, finances, and delivers it directly. The company survived an early cash crunch Park has retold from the TechTO stage, then a collapsed $95-million raise that forced layoffs of roughly two-thirds of staff in 2022–23, before rebuilding to profitability in 2024, a $50-million Series D in 2025, and an expansion push back across Western Canada through 2026.
Backers
Altos Ventures (Series D lead), D1 Capital Partners (Series B lead), Canaan Partners, Real Ventures, FJ Labs, Flight Deck Capital, Upper90, Global Founders Capital, BrandProject, Industry Ventures, and BMO Capital Partners, plus a strategic investment from iA Financial Group.
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Quick answers
How does buying a car from Clutch work?
You shop Clutch's own certified inventory at clutch.ca, complete the purchase and any financing online, and the car is delivered to your driveway. Every vehicle is inspected and reconditioned before listing, and a 10-day money-back guarantee lets you return it if it isn't right — so the test drive happens after you buy.
Who founded Clutch, and who runs it now?
Stephen Seibel founded Clutch in 2016 and launched it from Halifax in 2017; he remains with the company as founder and COO. In September 2019 he recruited Dan Park — the ex-VC who built Uber Eats Canada to nearly a million deliveries a week — as CEO. Park told the TechTO crowd his operating mantra: hustle like a duck — calm on the surface, running hard underneath.
Where does Clutch operate in 2026?
After retrenching to Ontario and the Maritimes during its 2022–23 reset, Clutch returned to British Columbia in 2025 and is expanding again: Alberta sales planned for 2026 with Saskatchewan and Manitoba to follow in 2027, up to 1,000 new hires over two years, and a second Customer Hub opened at Ottawa's Bayshore Shopping Centre in April 2026.