PowerBand Solutions (TSXV: PBX) has launched its mobile app in conjunction with that of Bryan Hunt. The app, known as Driveaway, is available to iOS users and enables consumers to easily sell vehicles from their phone, tablet, or computer.
The Driveaway app enables a new way for consumers to conduct the process of selling a vehicle. By uploading pertinent information related to the vehicle, the seller gains access to a network of potential buyers. The platform essentially enables the vehicle to be auctioned off to a network of professional wholesale buyers.
Supported by D2D Auto Auctions, the Driveaway app connects consumers with D2D’s network of auto dealers nation wide. The sale of a consumers vehicle can take place in as little as twenty minutes via these auctions, which a network of dealer buyers are plugged in to.
Produced by PowerBand, the app is the latest development in PowerBand’s consumer platform meant to revolutionize the process of buying, selling, leasing and financing an auto transaction. The app is being piloted by D2D Auto Auctions, a firm which is co-owned by both PowerBand as well as Bryan Hunt, an Arkansas-based financier whom is a director of J.B. Hunt Transport.
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The Driveaway app is currently available to iOS users, with an Android version of the mobile app expected to be launched in the near term. The app is currently undergoing its US beta test, with the platform currently being available to residents of Northern Arkansas, with plans to expand to the entire state of Arkansas as well as Oklahoma and Texas following feedback. The app will then be launched across the USA and Canada.
This is a revolutionary advance that empowers people to easily sell and trade cars in the used car market. People now have at their fingertips — whether it’s on their smart phone, tablet or computer — a way to sell vehicles to a wide network of buyers. Our mission is to make selling a car as easy as using Amazon or ordering an Uber.
PowerBand CEO Kelly Jennings
In addition to launching the Driveaway app, Powerband Solutions is currently in the process of securing multi billion dollar credit facilities to enable the purchase and leasing of vehicles on its platform. The company has engaged several partners to secure these leasing credit facilities.
PowerBand Solutions last traded at $0.19 on the TSX Venture.
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