PowerBand Solutions’ DRIVRZ™ products are on track for the official launch in Q1 2022
TORONTO, ON / October 27, 2021 / PowerBand Solutions Inc. (TSXV:PBX)(OTCQB:PWWBF)(FSE:1ZVA) (“PowerBand“, “PBX” or the “Company“), a comprehensive e-commerce solution transforming the online experience to sell, trade, lease, and finance vehicles is pleased to announce that the Company’s DrivrzXchange platform is set to resume US rollout in the first quarter of 2022. DrivrzXchange, a multisided marketplace that includes sellers and buyers of all types, uses advanced technologies and third-party applications to offer a seamless and frictionless path for anyone to buy or sell a vehicle.
PowerBand Solutions Inc, along with D2D Auto Auction LLC recently completed a successful 90-day trial launch of DrivrzXchange.com in select US market areas. Over the course of the trial, the Product team behind DrivrzXchange were able to track and observe user activities and utilization using advanced, third-party industry site monitoring tools. Multiple focus groups were also engaged to further understand consumer acceptance of the idea. By identifying user friction points and improving the user experience the company feels that changes currently being implemented such as a companion mobile photo application, streamlined vehicle data capture and improvements to workflows will further increase user adoption.
Darrin Swenson, COO of PowerBand Solutions commented: “We know we have the right product at the right time. Our asset-light, dealer inclusive model is perfectly suited to a time in the industry where both private sellers and dealerships are looking for a platform that can get them more money with less effort for their vehicle. DrivrzXchange eliminates fragmentation and the necessity of having different marketplaces for different audiences. Vertical integration with DrivrzLane and DrivrzFinancial sweetens the offering by giving dealers and consumers with access to the assets that they need, in a safe and transparent environment.”
Kelly Jennings, CEO added: “We see the DrivrzXchange platform becoming the natural inventory aggregation site for all types of sellers, and in turn for all types of buyers. Underpinned by DrivrzFinancial’s Leasing (and soon finance) as well as complimented by DrivrzLane’s dealer pipeline it will see tremendous growth opportunity as we scale it across North America and beyond. It is also easy to see that expanding into other vehicle types is a natural evolution path for the DRIVRZ Platform.”
About PowerBand Solutions Inc.
PowerBand Solutions Inc., 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 amongst consumers, dealers, funders, and manufacturers (OEMs). It enables them to buy, sell, trade, finance, and lease new and used, electric and non-electric vehicles, on any phone, tablet or PC connected to the internet. PowerBand’s transaction platform – being trademarked under DRIVRZ™ – is being made available across North American and global markets.
For further information, please contact:
Kelly Jennings
Chief Executive Officer
E: [email protected]
P: 1-866-768-7653
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FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements relating to the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of the Company, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
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