PowerBand Solutions’ (TSX.V: PBX) (OTCQB: PWWBF) (FRA: 1ZVA), a fintech provider disrupting the automotive industry, is working with Allianz Partners, the global insurance and services provider, to accelerate PowerBand’s North American electrical vehicle (“EV”) leasing strategy through DRIVRZ(TM). In order to do that, the companies are pursuing access to necessary lines of credit. DRIVRZ enables users to auction used EVs, as well as combustion engine vehicles, on its proprietary auction platform, DrivrzXchange. In addition, DRIVRZ in collaboration with PowerBand’s investor and partner D&P Holdings, will offer easy access to insurance products. With support from Allianz and its other financial lending partners, PowerBand is making progress on its plan to make DRIVRZ a leader in the delivery of EV insurance and leasing options; the company is focusing on operations in the United States and Canada with potential global expansion. Allianz insurance products are already available through the DRIVRZ virtual platform. With Allianz and other financial lending partners, PowerBand is advancing its strategy to make DRIVRZ a leader in the delivery of EV insurance and leasing options in the United States and Canada, with a global focus thereafter. “Global EV sales are expected to reach billions in global sales over the next five years, which offers enormous opportunities in insurance, leasing and the trading in or auctioning of used vehicles including used EVs,” said PowerBand CEO Kelly Jennings in the press release. “We have a functioning virtual marketplace that can do that now, and we intend to make DRIVRZ the go-to platform for all consumers but especially for EV drivers and EV automotive dealers. . . . I want to thank Allianz for their financial support and look forward to a long-term lucrative partnership with both them and D&P Holdings. It is our plan to transact a high-volume of EV leases on DRIVRZ with our proven track record as a digital solution for leasing Teslas — and a platform that can deliver approvals in as little as eight seconds — to achieve our goal of making PowerBand a leader in the EV leasing and EV insurance space.”
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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.
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