They say the victim met with unknown men in a parking lot near Lester Street in Waterloo at around 4:30 p.m. to complete a transaction worked out through an online classified site.
Police say once the exchange was made, the suspects attempted to steal back the cash.
The victim then fled the scene unharmed but was pursued by the suspects in their vehicle along Bridgeport Road and Weber Street from Waterloo into Kitchener.
Police say the suspects flashed weapons at the victim during the chase.
The chase is said to have ended once the victim pulled into the Central Division parking lot on Frederick Street in Kitchener.
The suspect vehicle is described as a late model white Hyundai Kona.
Officers are continuing to investigate the incident and are asking anyone who may have witnessed the incident or has recordings of the suspect vehicle driving erratically or displaying weapons during that time is encouraged to call 519-570-9777 or Crime Stoppers at 1-800-222-8477.