Canada Drives
Canada Drives is a Canadian online vehicle retailer founded in 2010 and based in Vancouver. The company allows customers to shop certified used cars online. History. Cody Green founded Canada Drives in 2010. While working at a dealership, he noticed flaws in the existing sales process when customers would choose a vehicle only to then be declined for finance. To make the process more efficient, he started helping customers get approved for car finance before choosing a vehicle. Realizing the scale of this customer pain point, he set out to solve the problem by building an online platform  around this inverted process. Green has stated that Canada Drives’ mission is “to be the easiest place to buy or sell your car in Canada.” Co-CEO Michael Galpin joined the company in 2011. In 2014, Canada Drives moved from Saskatoon to Vancouver to be closer to the growing tech sector there. At the time, Canada Drives had six employees. As of December 2021, the company employed more than 600 people. Canada Drives was identified as a company growing fast enough for an IPO but opted to stay private due to low-interest private equity funds. In 2019, U.S.-based growth  equity firm Anthos Capital invested $100 million in Canada Drives. In late 2020, Canada Drives expanded its business model from online auto financing to online vehicle retailing and delivery. In 2021, the company announced the national launch of its online vehicle retailing and delivery platform with service in Ontario, Alberta, and British Columbia. Sukhinder Singh Cassidy joined the Canada Drives board of directors. In August 2021, Canada Drives closed $100 million CAD in a Series B round of funding led by San Francisco-based Honor Ventures. Canada Drives is an official partner of the Canadian Football League (CFL ). Recognition. In 2016, Canada Drives earned the top spot on the Canadian Business Profit 500 list with 5-year revenue growth of 12,686% and was named Canada’s Fastest-Growing Company. From 2016 to 2021 the company was ranked numbers 44, 104, 193, 321, 386 and 479 respectively on the Deloitte Technology Fast 500 list of fastest growing digital technology, media, and entertainment companies. In 2019 and 2020, Deloitte recognized Canada Drives as one of Canada’s Best Managed Companies. In 2021, the company was named one of Deloitte’s Enterprise Fast 15 winners for a third time. Founder Cody  Green has been included on Canada's Top 40 Under 40 2017 list of up-and-coming leaders by BNN Bloomberg as well as the Business in Vancouver Forty Under 40 honoree list. In 2016, Green was a recipient of the Ernst & Young Entrepreneur of the Year Award.