PowerBand Solutions’ (TSX.V: PBX) (OTCQB: PWWBF) (FRA: 1ZVA), a fintech provider disrupting the automotive industry, has announced that an acquisition from 2019 — MUSA Auto Finance — will rebrand as DRIVRZ(TM) Financial and serve as the company’s leasing and financing division. The announcement noted that the company will continue to grow its indirect lending business and expand into direct-to-consumer financing, traditional retail financing and lending across the full credit spectrum. PWWBF acquired a 60% share of MUSA in 2019. The company gained a reputation for simplifying complex processes through automation and it will bring that same expertise to its new role as DRIVRZ Financial. PowerBand also released is April 2021 financial results, which continue to show strong month-over-month growth heading into the second quarter of 2021. The report showed that the company’s gross sales activity in April totaled C$13.5 million, an increase of C$2 million, or 17%, over March numbers. April’s numbers bring year-to-date 2021 gross sales activity on the DRIVRZ platform to C$39.8 million. “We continue to be excited to demonstrate to our shareholders, and potential investors, the potential of our solutions,” said PowerBand Solutions CEO Kelly Jennings in the press release. “Our new credit facilities, including those recently announced, coupled with our expanded sales force has enabled us to be able to continue to accelerate the adoption of our DRIVRZ(TM)solutions. I wish to congratulate our team that continues to meet or exceed our already aggressive growth targets.”
About PowerBand Solutions Inc.
PowerBand Solutions, listed on the TSX Venture Exchange and the OTCQB markets, is a fintech provider disrupting the automotive industry. PowerBand’s integrated, cloud-based transaction platform facilitates transactions among consumers, dealers, funders and manufacturers (“OEMs”). The platform enables users to buy, sell, trade, finance, and lease new and used, electric- and non-electric vehicles, on smartphones or any other online digital devices, from any location. PowerBand’s transaction platform — being trademarked under DRIVRZ — will be available across North American and global markets. For more information, please visit www.PowerBandSolutions.com.
NOTE TO INVESTORS: The latest news and updates relating to PWWBF are available in the company’s newsroom at http://ibn.fm/PWWBF
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