iA Financial Group invests $10m in Clutch Technology’s pre-owned car sales platform

Investment Announcement

iA Financial Group has committed $10 million in investment to Clutch Technology, a prominent player in Canada's online pre-owned vehicle market.

Strategic Integration

This investment aims to seamlessly integrate iA Financial Group’s insurance products into Clutch’s robust digital car-buying platform.

Partnership Benefits

By partnering with Clutch, iA Financial Group enhances its ability to provide a comprehensive online solution for vehicle purchases and insurance needs.

About Clutch

Founded in 2017 and headquartered in Toronto, Clutch has rapidly grown to become a leading retailer in Canada's pre-owned vehicle sector.

Clutch's Performance

In 2023 alone, Clutch successfully facilitated the sale of over 8,000 vehicles through its innovative online platform, solidifying its market presence.

Clutch's Offerings

Clutch offers a user-friendly interface that includes extended warranty and guaranteed asset protection products sourced from iA Financial Group.

Use of New Funding

The additional funding will be instrumental in advancing Clutch’s digital infrastructure, expanding its product range, and enhancing overall customer satisfaction.

Executive Comments

The cooperation increases consumer peace of mind and user experience, says Clutch CEO Dan Park. EVP Pierre Miron of iA Financial Group proposed internet sales to better reach consumers.

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