PowerBand Solutions Inc. (TSX.V: PBX) (OTCQB: PWWBF) (FRA: 1ZVA) Secures Investment to Further Cloud-Based Vehicle Transaction Platform

May 13, 2020 11:22:09
  • PowerBand has received a commitment of up to $10 million in investment from Texas-based D&P Holdings Inc., $3.3 million of which has been completed
  • D&P is one of the largest administrators of warranty and insurance products in the U.S. automotive industry and works directly with hundreds of dealerships across the country
  • PowerBand’s cloud-based platform benefits key stakeholders in the industry by removing unnecessary third parties and fees, allowing consumers to trade vehicles through their smart phones

PowerBand Solutions Inc. (TSX.V: PBX) (OTCQB: PWWBF) (FRA: 1ZVA) is helping the automotive industry recover from the coronavirus pandemic by empowering dealers and consumers to buy, sell, lease and trade cars and trucks from any remote location. The company has secured an additional $600,000 from Texas-based D&P Holdings Inc. to offer its platform enabling virtual transactions to consumers and automotive dealers across the United States.

The platform will allow consumers to sell, buy, lease, auction and finance vehicles, irrespective of their location, from their smartphones or other devices. PowerBand has sufficient operational funds to continue its platform commercialization plans, which is why it will not be drawing additional funds from D&P at…

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