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BNN | 2017

Canada Drives® on BNN | 2017

Canada Drives’ Formula For Success: Focus on What You Know

After majoring in bass guitar, Cody Green, founder of Canada Drives, took a career detour. Working at a dealership led him to pursue his business venture in auto finance, now Canada’s fastest-growing company of 2016. We discuss how he managed to achieve 12,686 per cent in revenue growth over five years and what drove this meteoric success.

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Vancouver Fintech company ranks first in 2016 Profit 500 with 94 per cent Gen Y workforce

Sep 15, 2016

Vancouver, BC - Canada Drives is the fastest growing company in Canada according to the 28th annual Profit 500 rankings, which is a feat that is internally attributed to a young and dynamic executive team and staff.

The designation, awarded for the company's five-year revenue growth of 12,686 per cent, is an endorsement of the strategy that was followed from inception in 2010, according to Cody Green, Founder and CEO of Canada Drives.

"I started the company at 24 years old, and have consistently surrounded myself with other young professionals throughout this journey of building over the past six years," says Green. "The Profit 500 ranking sends a strong message to everyone who told us that we could not reach the next level without bringing in senior leadership."

From its humble beginnings as a home-based business, to the six individuals that facilitated a move to Vancouver in 2014, to the 190 employees currently inhabiting two floors in the Bentall II Tower, Canada Drives has always made a point of targeting young workers. Twelve of the fifteen managers, and 94 per cent of the total workforce, fall into the Gen-Y age range.

As a tech company that is setting precedents in Canada's rapidly growing Fintech sector, young people are an asset that have allowed for the successful disruption of one of the country's most traditional and established industries.

Automobile sales have had four straight record-breaking years that have been driven by online platforms for product selection and financing, introducing hundreds of thousands of new customers to dealerships across the country. In 2015, Canada Drives received over 400,000 applications from consumers, resulting in approximately $1.1 billion in facilitated loans.

The tech savvy of young people who have grown up online, combined with a work ethic that is defined by dedication and a hunger for advancement, are the defining characteristics of why Gen-Y employees have achieved such great success for the company, adds Green.

“Early on, we knew that we needed to attract applicants who were as passionate as they were knowledgeable about the power of online commerce," explains Green. "Our early successes served as fuel for a group of young people hungry for an opportunity within a new business frontier for the Canadian market."

Posted by Canada Drives

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