The recently named fastest-growing company in Canada has a connection to in Salmon Arm.
Cody Green, who grew up in Salmon Arm, founded Canada Drives, a financial service company which specializes in facilitating car loans, in 2010.
The company is listed as number one on Profitguide.com’s Canada-wide Profit 500 list, with a 12,686 per cent revenue growth over the last five years.
“It’s really been fuelled by the demand for our service – and I think that comes down to solving a real problem for Canadian consumers. The way people bought cars hasn’t fundamentally changed in decades,” Green said.
Canada Drives matches prospective car buyers with dealerships that gives them financing based on a questionnaire.
The questionnaire asks buyers to provide information including: preferred type of vehicle, monthly income and street address.
Green didn’t expect to be at the helm of a multi-million dollar company, he left Salmon Arm with hopes of becoming a professional musician.
Although he said Canada Drives’ customer base spans all age ranges, because young Canadians are part of the early adopters of any new technology, he said.
The service Canada Drives offers appeals to varying demographics, the company’s approximately 170 person staff is comparatively young, Green is 31.
“I’m drawn to young, passionate, ambitious people – and as they were some of the first hires and responsible for our early success. For us I really think it was keeping with a formula that was working,” Green said.
Green isn’t the only connection Canada Drives has to Salmon Arm.
The company’s CFO, Stephen Brown joined the company in 2013 and is also from the area. The pair were childhood friends.
“In finding (Brown) for a CFO, I was fortunate to have someone I was friends with from a young age also end up being the right fit for an important position in the company.
“We both do a pretty good job of separating the professional relationship from the personal relationship, which allows us to remain friends while still ensuring we get the job done,” Green said.
Canada Drives has grown startlingly fast over the past five years and Green believes it can continue to expand.
“ A lot of Canadians are still learning about financial technology and how it has the ability to make their lives easier. Educating Canadians on the options that are available should allow us to continue to grow in the coming years.”
Green thinks there are opportunities in other markets, but said Canada Drives will remain in Canada for the time being.
“For now while there’s still room to grow and it’s a market we understand – this is where we’re going to focus our attention.”