# CarDoor

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cardoor

- Industry: Retail
- Headquarters: Toronto, Canada
- Website: www.cardoor.ca
- Total disclosed funding: $2.4M
- Latest round: Seed (Sep 15, 2021)
- Investors on record: 1

## About

CarDoor Inc. is a Canadian company specializing in the online buying and selling of used vehicles, offering a seamless platform that enhances the car shopping experience while eliminating typical dealership inconveniences.Founded in 2021 and headquartered in Toronto, Canada, CarDoor Inc. operates as an online vehicle marketplace. The company conducted its first funding round in September 2021, raising CAD 3 million during a Seed round led by Framework Venture Partners. Matthew McKenzie serves as both CEO and founder, bringing experience in the automotive industry to the venture.CarDoor specializes in the online buying and selling of used vehicles, providing a streamlined platform for consumers to navigate the car shopping experience without the traditional dealership hassles. Their primary offerings include a comprehensive marketplace featuring thousands of vehicles ranging from budget-friendly options under CAD 25,000 to premium models equipped with the latest technology. CarDoor's service model emphasizes transparency and convenience, allowing customers to receive instant offers for their vehicles and get pre-approved for financing in minutes. The company caters to a diverse client base, including buyers looking for SUVs, sedans, trucks, and eco-friendly vehicles like EVs and hybrids, ensuring accessibility across various regions.CarDoor generates revenue through its vehicle sales and associated services, including financing and vehicle inspections. Each transaction typically involves a customer browsing the online platform, selecting a vehicle, and finalizing their purchase through a smooth digital process. The revenue structure is primarily direct-to-consumer, allowing CarDoor to maintain a close relationship with its clients. Customers receive competitive financing options tailored to different credit profiles, further enhancing the buying experience. Additionally, the company may capitalize on the resale of vehicles and related services, such as delivery and vehicle inspections, which are integral to its operations.In September 2021, CarDoor Inc. raised CAD 3 million in Seed funding led by Framework Venture Partners. The funding will support the next phase of growth for CarDoor Inc. and its plan to expand its platform offerings. Upcoming initiatives include the introduction of new online tools designed to enhance vehicle purchasing efficiency, alongside plans to penetrate additional geographic markets. Specific regions targeted for expansion include Western Canada and the northeastern United States by 2023.

## Funding rounds

- Seed, Sep 15, 2021, $2.4M — Framework Venture Partners

## Investors

- Framework Venture Partners (https://capitalatlas.ai/funds/framework-venture-partners) — Seed