PowerBand's Leasing Division, MUSA, being Re-Branded as DRIVRZ Financial
PowerBand Solutions has rebranded its leasing and financing division, formerly known as MUSA Holdings, to DRIVRZ™ Financial. This division, which PowerBand acquired a 60% stake in July 2019, will now enhance the DRIVRZ™ marketplace, allowing users to lease, buy, sell, and insure vehicles digitally. The platform features advanced leasing options and fast approval times, with credit applications processed in approximately eight seconds. This strategic shift aims to provide clarity and a seamless experience for consumers and automotive dealers alike.
- Rebranding to DRIVRZ Financial integrates leasing services under a recognized brand, promoting ease for consumers and dealers.
- The leasing platform offers rapid approval times, enhancing user experience.
- Acquired 60% of MUSA Holdings, expanding the company's capabilities in the leasing sector.
- None.
VANCOUVER, BC / ACCESSWIRE / April 9, 2021 / PowerBand's (TSXV:PBX) (OTCQB:PWWBF) (Frankfurt:1ZVA) ("PowerBand", "PBX" or the "Company") leasing and financing division is being brought under the DRIVRZ™ brand and will now operate under the sub-brand DRIVRZ™ Financial.
PowerBand's leasing and finance division was previously known as MUSA Holdings, LLC ("MUSA"). PowerBand acquired a 60 per cent share of MUSA in July 2019.
DRIVRZ™ Leasing and Finance is an integral component of the overall DRIVRZ™ marketplace experience. With DRIVRZ™, users can lease, buy, sell, trade-in and insure electric and non-electric vehicles on any digital device, from any location.
DRIVRZ™ Leasing and Finance is an innovative transaction platform aimed at automotive dealers and consumers, to provide the most advanced leasing options in the industry. It takes credit applications, calculates leases and auto-decisions applications within seconds. The pre-populated lease agreements make the process quick and easy for consumers and dealers.
"We are excited to be integrating our leasing service under the DRIVRZ brand," said DRIVRZ™ Financial CEO Jon Lamb. "DRIVRZ™ will be the one-stop marketplace for consumers and automotive dealers to buy, lease, sell, auction, insure and finance vehicles using any digital device."
Approvals can be delivered in a little as eight seconds. As a result of its proprietary technology, this leasing and finance component of DRIVRZ™ was awarded a contract by Tesla Motors to become a national leasing partner in 2018.
"For the sake of simplicity and clarity to consumers, automotive dealers, partners and investors, we are consolidating components of our marketplace under our trademarked brand, DRIVRZ™," said PowerBand CEO Kelly Jennings.
For further information, please contact:
Kelly Jennings
Chief Executive Officer
E: info@powerbandsolutions.com
P: 1-866-768-7653
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 smart phones or any other online digital devices, from any location. PowerBand's transaction platform - being trademarked under DRIVRZ™ - is being made available across North American and global markets.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
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.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, we cannot guarantee that any forward-looking statement will materialize, and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as at the date of this news release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.
SOURCE: PowerBand Solutions Inc.
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