This morning PowerBand Solutions (TSXV: PBX) announced their agreement with RouteOne giving the company access to thousands of dealerships across the United States and Canada. PowerBand’s cloud-based sales and leasing platform allows auto consumers and dealers to easily approve the trading and leasing of vehicles.
RouteOne, a joint venture between Ally Financial, Ford Motor Credit Company, TD Auto Finance, and Toyota Financial Services maintains a footprint of over 18,000 automotive dealers and 1,500 finance sources. RouteOne provides a comprehensive suite of finance and insurance tools, ranging from credit applications and eContracting to digital retail and compliance.
Powerband is now well positioned to be a leader in the vehicle-leasing market in the U.S. and Canada.. This is a major milestone in our goal to revolutionize how the world buys, sells, leases, and auctions cars, to make acquiring a vehicle as easy as buying a product on Amazon, in effect uberizing the process.”
Kelly Jennings, President and CEO of PowerBand.
PowerBand anticipates the agreement with RouteOne will help PowerBand facilitate thousands of financing transactions on its leasing platform, and subsequently thousands of auction transactions, as a result of trade-ins, on PowerBand’s online remarketing platform.
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PowerBand Solutions closed yesterday’s session at $0.25 on the TSX Venture.
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