iA Financial Group has committed $10 million in investment to Clutch Technology, a prominent player in Canada's online pre-owned vehicle market.
This investment aims to seamlessly integrate iA Financial Group’s insurance products into Clutch’s robust digital car-buying platform.
By partnering with Clutch, iA Financial Group enhances its ability to provide a comprehensive online solution for vehicle purchases and insurance needs.
Founded in 2017 and headquartered in Toronto, Clutch has rapidly grown to become a leading retailer in Canada's pre-owned vehicle sector.
In 2023 alone, Clutch successfully facilitated the sale of over 8,000 vehicles through its innovative online platform, solidifying its market presence.
Clutch offers a user-friendly interface that includes extended warranty and guaranteed asset protection products sourced from iA Financial Group.
The additional funding will be instrumental in advancing Clutch’s digital infrastructure, expanding its product range, and enhancing overall customer satisfaction.
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.